November 11, 2026/Cordros Report
EQUITIES
The local equities market closed today’s trading session on a bearish note, as losses in FIRSTHOLDCO (-3.7%), OKOMUOIL (-10.0%), NASCON (-9.0%) and UBA (-2.4%) caused the All-Share Index to close lower by 0.2% to 251,870.45 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -1.0% and +61.9%, respectively.
The total volume traded declined by 24.3% to 413.05 million units, valued at NGN22.62 billion, and exchanged in 30,732 deals. HONYFLOUR was the most traded stock by volume at 75.96 million units, while GTCO was the most traded stock by value at NGN4.57 billion.
Sectoral performance was mixed as the Banking (-0.6%), Insurance (-0.3%) and Consumer Goods (-0.2%) indices declined, while the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 22 tickers gained relative to 29 losers. OKOMUOIL (-10.0%) and ENAMELWA (-10.0%) led the laggards, while UPL (+10.0%) and CAVERTON (+9.0%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.4% to NGN1,357.34/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 7bps to 20.3%, in the absence of any significant inflow into the system.
The Treasury bill secondary market traded on a bullish note as average yield contracted by 1bp to 17.8%. Across the curve, average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments driven by demand for the 85DTM (-1bp), 176DTM (-1bp) and 358DTM (-1bp) bills. Similarly, the average yield contracted by 4bps to 18.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 7bps to 16.1%. Across the benchmark curve, the average yield contracted at the mid (-18bps) and long (-8bps) segments, driven by buying interests in the MAR-2036 (-24bps) and JUN-2053 (-21bps) bonds, respectively. The average yield remained unchanged at the short end.
Kindly see below our Mutual Fund prices and returns as of today.
