Daily Financial Markets Update

Commentary

System liquidity opened with a surplus of ₦3.83 trillion. The Overnight (O/N) rate declined by 4bps to close at 22.21%, while Open Buy-Back (OBB) rate was unchanged, holding steady at 22.00%.

Commentary

The T-bills market traded on a quiet note today, with mixed pricing action across the curve. The 7-Jan-2027 bill eased by 9bps to 16.27%, while the 8-Apr-2027 bill edged higher by 10bps to 16.00%. The average benchmark rate declined by 1bp, closing at 15.98%.

Commentary

The FGN bond market traded on a mixed note today. The 17-Apr-2029 bond was the standout mover, rising sharply by 47bps to 16.52%, while the 20-Mar-2027 bond edged higher by 7bps to 17.94%. On the other hand, the 21-Jan-2042 bond bucked the trend, easing by 52bps to 14.08%. The average benchmark yield rose by 1bp, closing at 15.94%.

Commentary

The SSA Eurobond market traded on a positive note today, as shifting geopolitical dynamics surrounding the U.S.-Iran standoff drove contrasting price action across the region. Nigeria declined by 3bps to 7.20%, Angola tightened sharply by 11bps to 8.24%. Egypt bucked the trend, seeing the sharpest move in the opposite direction, rising by 13bps to 7.48%.

Commentary

The local bourse closed the day on a positive note, as the NGX All-Share Index (ASI) gained 1.48% to settle at 222,837.7 points, while YTD return came in at 43.20%. Sectoral performance close the day predominantly on a bullish note, highlighting cautious yet consistent buying interest across the broader market. The Banking sector spearheaded the gains, climbing by 1.53% driven by a 3.47% buying interest in ZENITH. The Consumer Goods index followed closely, advancing by 1.19% after a strong of 10.00% gain in UNILEVER. Elsewhere, the Industrial Goods space appreciated by 1.03%, propelled by a 4.55% gain in CAP. Conversely, the Oil and Gas sector edged marginally lower by 0.06%, pressured by a 5.94% decline in JAPAULGOLD. while, the Insurance sector retreated by 0.91%, weighed down by a sharp 9.26% sell-off in WAPIC. Market breadth stood at 0.94x with 31 gainers and 33 losers. Market capitalization improved slightly to ₦143.477 trillion from ₦141.384 trillion. Trading activity closed the day mixed, with turnover value increased to ₦38.123 billion from ₦36.167 billion while volume traded decreased to 667.937 million units from 683.684 million units.

Commentary

The U.S. is trading mixed, with the Russell (+0.03%) on continued appetite for small-cap stocks and selective bargain hunting, while the S&P (-0.03%), Dow Jones (-0.19%), and Nasdaq (-0.32%) are lower amid Middle East geopolitical uncertainty, rising oil prices, and mixed corporate earnings. European markets closed mixed, with CAC (+0.87%) and STOXX (+0.12%), on strong earnings, while DAX (-0.06%), and FTSE (-0.19%) as escalating Middle East tensions, rising energy prices, weak PMI data, and cautious corporate updates weighed on broader investor sentiment. Asian markets closed lower, with the Shanghai (-0.32%), Hang Seng (-0.95%), and Nikkei (-0.75%) as profit-taking after recent highs, a lack of fresh catalysts, cautious positioning ahead of key data, and lingering U.S.–Iran geopolitical uncertainty weighed on overall risk sentiment.