Daily Financial Markets Update

Commentary

System liquidity opened with a surplus of ₦3.79 trillion. The Overnight (O/N) rate rose by 10bps to close at 22.29%, while Open Buy-Back (OBB) rate was unchanged, holding steady at 22.00%.

Commentary

The T-bills market traded on a quiet note with a mildly bearish sentiment as yields ticked higher across the curve, with the 8-Apr-2027 bill rising by 11bps to 15.86%. The average benchmark rate increased by 1bp to close at 15.99%.

Commentary

The FGN bond market closed on a bullish note, driven by modest buying interest in the mid-tenor segment. March 2026 inflation rose to 15.38%, reflecting pass-through effects from elevated energy prices. Overall benchmark yields declined by 4bps to settle at 15.85%.

Commentary

The SSA Eurobond market traded on a mixed note marked with profit taking, as easing tensions surrounding the U.S.-Iran standoff buoyed risk sentiment globally. Nigeria's yields declined by 2bps to 7.23%, Angola rose by 1bps to 8.38%, while Egypt rose by 1bps to 7.35%.

Commentary

The local bourse closed the day on a positive note, as the NGX All-Share Index (ASI) gained 1.66% to settle at 209,323.0 points, while YTD return came in at 34.52%. Sectoral performance closed largely positive, as most key indices recorded gains, reflecting sustained buying interest. The Oil and Gas sector led with a 4.23% gain, driven by a 10.00% rise in ARADEL. Then, followed by the Banking sector, which advanced strongly by 3.15% on the back of a 9.98% increase in ETI. The Consumer Goods sector also posted a 1.26% gain, supported by a 2.76% uptick in MCNICHOLS. Conversely, the Insurance sector declined by 1.33% due to 4.26% loss in CORNERST, while the Industrial Goods sector edged lower by 0.09%, weighed down by a 9.77% drop in AUSTINLAZ. Market breadth stood at 1.00x with 37 gainers and 37 losers. Market capitalization improved to ₦134.772 trillion from ₦132.492 trillion. Trading activity closed the day bullish, with turnover value increasing to ₦41.876 billion from ₦32.25 billion while volume traded increased to 706.392 million units from 569.309 million units.

Commentary

The U.S. market is trading largely bullish. The S&P 500 (+0.46%), Nasdaq (+1.05%), Russell (+0.05%), and Dow Jones (-0.42%) are up due to strong corporate earnings (especially banks and tech), optimism over potential easing geopolitical tensions, and continued momentum in growth stocks despite mixed macro signals. European markets closed the day largely bearish, as the STOXX 600 (-0.41%), FTSE 100 (-0.47%), DAX (+0.13%), and CAC 40 (-0.66%) closed lower due to weaker luxury earnings, falling tourism demand, and renewed inflationary pressure from energy prices amid Iran-related geopolitical tensions. Asian markets closed the day bullish, with the Hang Seng (+0.29%), Shanghai (+0.01%), and Nikkei (+0.44%) edged higher on improved risk sentiment driven by renewed US–Iran diplomatic optimism, easing oil prices, and broad-based gains across consumer, and technology stocks.