Daily Financial Markets Update

Commentary

System liquidity opened with a surplus of ₦5.69 trillion. The Overnight (O/N) rate rose by 4bps to close at 22.18%, while Open Buy-Back (OBB) rate was unchanged, holding steady at 22.00%.

Commentary

The T-bills market traded on a bullish note today, with demand filtering across the curve. The 25-Mar-2027 bill led gains, declining by 22bps to 15.88%, while the 5-Nov-2026 bill also eased by 12bps to 16.08%. The 18-Feb-2027 bill bucked the trend, edging higher by 7bps to 16.27%. The average benchmark rate declined by 2bps, closing at 16.05%.

Commentary

The FGN bond market traded on a mixed note today, with contrasting price action across the curve. The 18-Apr-2037 bond led the selloff, rising by 20bps to 17.00%, while the 29-Jan-2035 bond eased by 17bps to 16.84%. The rest of the curve remained largely unchanged. The average benchmark yield closed flat at 16.21%.

Commentary

The SSA Eurobond market traded on a mixed note today, as Iran's Supreme Leader declared that the country's uranium must remain within its borders, effectively hardening Tehran's position and dashing hopes of a swift nuclear deal. The news sent oil prices higher and weighed on broader risk sentiment. Nigeria and Angola eased by 4bps and 1bp to 7.19% and 8.18% respectively, while Egypt bucked the trend, widening by 5bps to 7.48%.

Commentary

The local bourse closed the day on a negative note, as the NGX All-Share Index (ASI) fell by 0.04% to close at 249,193.06 points, pushing the year-to-date return to 60.13%. Sectoral performance closed on a mixed note, reflecting cautious investor sentiment across the market. The Banking sector recorded a marginal gain of 0.03%, supported by a 1.21% appreciation in WEMABANK. Similarly, the Consumer Goods sector advanced by 0.52%, driven by a strong 9.80% rally in UNILEVER. On the downside, the Oil and Gas sector declined by 0.09%, weighed down by a 3.66% loss in JAPAULGOLD. The Insurance sector also closed lower by 0.55%, pressured by a 9.46% decline in SOVRENINS, while the Industrial Goods sector slipped marginally by 0.01%, following a 10.00% drop in BERGER. Market breadth stood at 0.43x with 19 gainers and 44 losers. Market capitalization increased marginally to ₦159.711 trillion from ₦159.588 trillion. Trading activity closed the day mixed, with turnover value decreased to ₦26.755 billion from ₦29.946 billion while volume traded increased to 987.232 million units from 557.202 million units.

Commentary

U.S. market is trading largely bearish, S&P 500 (-0.25%), Nasdaq (-0.34%), and Dow Jones (-0.10%) on rising oil prices, higher yields, and weak tech sentiment, while Russell (+0.04%) as investors rotated into small-cap stocks showing relative resilience. European markets closed mixed, STOXX (+0.23%), and FTSE (+0.11%), on easing geopolitical tensions and AI-driven optimism, while, DAX (-0.33%), and CAC (-0.39%) amid weak economic data, renewed US-Iran concerns, and pressure on financial and energy-related stocks. Asian markets closed mixed, Shanghai (-2.04%), and Hang Seng (-1.03%) amid profit-taking in technology and financial stocks, while Nikkei (+3.14%) on AI-driven technology optimism.