Daily Financial Markets Update

Commentary

System liquidity opened with a surplus of ₦3.82 trillion. The Overnight (O/N) rate rose by 11bps to close at 22.31%, 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 bullish undertone. The 4-Jun-2026 bill led gains, declining sharply by 29bps to 15.72%. The average benchmark rate declined by 1bp, closing at 15.98%.

Commentary

The FGN bond market traded on a quiet note today, with mixed but largely muted price action across the curve. The 25-Jun-2032 and 29-Jan-2035 bonds edged higher by 13bps and 8bps respectively, while the 21-Feb-2034 bond bucked the trend, easing by 12bps to 16.28%. The average benchmark yield closed flat at 15.85%.

Commentary

The SSA Eurobond space recorded a bearish session, as profit-taking drove a broad-based rise in sovereign yields, despite a softening in global risk. Nigeria's yields rose by 3bps to 7.26%, Angola rose by 7bps to 8.45%, while Egypt rose by 9bps to 7.43%.

Commentary

The local bourse closed the day on a positive note, as the NGX All-Share Index (ASI) gained 1.23% to settle at 211,900.6 points, while YTD return came in at 36.17%. Sectoral performance closed largely positive, as most key indices recorded gains, reflecting sustained buying interest. The Oil and Gas sector led with a 4.67% gain, driven by a 9.99% rise in ARADEL. Then, followed by the Banking sector, which advanced strongly by 2.49% on the back of a 9.97% increase in ETI. The Consumer Goods sector also posted a 1.65% gain, supported by a 9.38% uptick in DANGSUGAR. Conversely, the Insurance sector declined by 0.74% due to 8.18% loss in INTENEGINS, while the Industrial Goods sector edged lower by 0.03%, weighed down by a 8.61% drop in CAP. Market breadth stood at 2.20x with 44 gainers and 20 losers. Market capitalization improved to ₦136.435 trillion from ₦134.772 trillion. Trading activity closed the day bearish, with turnover value declining to ₦34.758 billion from ₦41.876 billion while volume traded decreased to 584.961 million units from 706.392 million units.

Commentary

The U.S. market is trading bullish. The S&P 500 (+0.28%), Nasdaq (+0.08%), Russell (+0.36%), and Dow Jones (+0.19%) are up on optimism over easing Middle East tensions and strong corporate earnings supporting investor confidence. European markets closed mixed, as the STOXX (-0.05%) dipped as cautious sentiment persisted, while the FTSE (+0.29%), DAX (+0.41%), and CAC (+0.10%) edged higher on cautious optimism over a potential U.S.–Iran ceasefire extension and progress toward a broader Middle East peace deal, supported by corporate earnings. Asian markets closed the day bullish, with the Hang Seng (+1.72%), Shanghai (+0.07%), and Nikkei (+2.38%) on improved risk sentiment driven by renewed US–Iran diplomatic optimism, easing oil prices, and broad-based gains across consumer, and technology stocks.