Daily Financial Markets Update

Commentary

System liquidity opened the week with a surplus of ₦3.56 trillion. The Overnight (O/N) rate rose by 7bps to close at 22.23%, while Open Buy-Back (OBB) rate was unchanged, holding steady at 22.00%.

Commentary

The T-bills market opened the week on a quiet note with a mildly bearish undertone. The 8-Apr-2027 bill was the sole mover, edging higher by 12bps to 15.82. The average benchmark rate closed flat at 15.97%.

Commentary

The FGN bond market opened the week on a softer tone, as investors remain cautious over the current geopolitical development. The 21-Feb-2031 and 15-May-2033 bonds led the selloff, rising by 24bps each to 16.60% and 16.61% respectively. The average benchmark yield rose by 8bps, closing at 15.92%.

Commentary

The SSA Eurobond market traded on a broadly bullish note today, despite the partial resurgence in global tensions following the setback in peace talks. Sentiment was largely positive across the region, though Nigeria bucked the trend marginally, with yields edging higher by 1bp to 7.23%. Angola tightened by 1bp to 8.28%, while Egypt led gains, declining by 10bps to 7.25%.

Commentary

The local bourse opened the week on a positive note, as the NGX All-Share Index (ASI) gained 0.44% to settle at 218,115.8 points, while YTD return came in at 40.17%. Sectoral performance for the opened the week mixed but largely positive, with most key indices recording gains, reflecting sustained buying interest across the market. The Banking sector led the advancers, rising by 2.56%, supported by strong buying in Fidelity, which gained 9.98%. The Oil and Gas sector followed with a 0.75% increase, driven by gains in JAYPAULGOLD, which advanced by 2.77%. The Industrial Goods sector also posted modest gains, edging up by 0.35%, with WAPCO leading the sector after appreciating by 2.47%. Similarly, the Consumer Goods sector closed higher by 0.38%, buoyed by a 10.00% rise in UNIONDICON. On the downside, the Insurance sector closed the day flat, remaining unchanged as gains and losses across constituent stocks balanced out. Market breadth stood at 1.05x with 36 gainers and 34 losers. Market capitalization improved to ₦140.202 trillion from ₦139.826 trillion. Trading activity opened the week bearish, with turnover value decreased to ₦36.70 billion from ₦54.35 billion while volume traded declined to 677.133 million units from 1,258 million units.

Commentary

The U.S. market is trading mixed, with the Russell (+0.40%) supported by ongoing demand for small-cap stocks, while the S&P (-0.35%), Nasdaq (-0.53%), and Dow Jones (-0.12%) amid renewed U.S.–Iran geopolitical tensions, which dampened overall risk sentiment despite higher oil prices boosting energy stocks. European markets opened the week bearish, with the STOXX(-0.93%), CAC (-1.22%), DAX(-1.13%), and FTSE(-0.55%) under pressure amid renewed US-Iran tensions and rising oil prices, which fuelled inflation and growth concerns despite strength in energy stocks. Asian markets opened the week bullish, with the Nikkei up 0.6% on AI and earnings optimism, the Hang Seng rose by 0.8% on supportive China policy signals, and the Shanghai gained by 0.76% after the PBOC reaffirmed its accommodative stance.