System Liquidity
System liquidity remained healthy early on but tightened after the CBN’s ₦600bn OMO auction. Interbank rates rose slightly, with OPR at 26.58% and O/N at 27.17%.
Treasury Bills
Market activity was light due to the OMO auction. The CBN received ₦771.65bn in bids, allotting ₦745.40bn at 23.99% for the 260-day tenor. No 113-day bills were sold. Benchmark NTB rates closed flat at 18.34%.
FGN Bonds
Trading was modest with focus on Apr 2029s, Feb 2031s, and May 2033s. Despite selective interest, yields closed unchanged at 17.91%.
Eurobonds
African Eurobonds rallied on improved sentiment, with Nigeria and Angola benefitting from oil exposure. Angola led gains due to yield appeal. Nigerian bonds gained, with yields falling 8bps to 8.60% amid strong demand.
Nigerian Equities
The ASI dipped slightly by 1bp to 119,978.57 points. Banking, Industrial, and Oil sectors fell, while Consumer Goods rose. Block trades dominated, driving a 246.87% jump in value traded. CWG gained 10%; LEARNAFRCA lost 10%.
Foreign Exchange
The Naira appreciated by 62bps to ₦1,529.71/$ as dollar supply improved. Trading was active between ₦1,528–₦1,533. Gross FX reserves dipped $45.47m to $37.37bn.
Commodities
Oil prices slipped slightly on easing Middle East risks and OPEC+ supply expectations. Brent fell to $67.64. Gold rose 0.6% to $3,293.55/oz, supported by a weaker dollar and ending Q2 with a 5.5% gain.
