System Liquidity
System liquidity opened the day stronger, rising by ₦648.7bn to ₦1.99tn. However, the Overnight Policy Rate (OPR) closed flat at 26.50%, while the Overnight (O/N) rate inched up by 8bps to 27.00%.
Treasury Bills
The Treasury bills secondary market began the day quietly, with investors primarily focused on the CBN’s OMO and DMO Bond auction.
FGN Bonds
The bonds secondary market remained quiet as investors focused on the DMO’s July bond auction.
Eurobonds
Benchmark yields in the Nigerian Sovereign Eurobond market fell by an average of 8bps to 8.09%, as broad-based buying interest lifted prices across the curve amid U.S.–EU tariff agreement.
Nigerian Equities
High-cap stocks sustained the bullish momentum in the equities market, as the All-Share Index (ASI) gained 0.53% to close at 135,166.51 points. Four major sectors had a positive outing, leaving the Banking sector with a dip of 0.69%. Notable deals were 111.1m FIDELITYBK at ₦21, 9.5m NB at ₦72.1, 13.7m ZENITHBANK at ₦72.00 amongst many others.
Foreign Exchange
The interbank NFEM remained relatively liquid, and the exchange rate held steady despite a slight increase in FX demand. The USD/NGN pair traded between $/₦1,532.00 and $/₦1,535.50, with the Naira appreciating by 3bps to close at $/₦1,524.2090.
Commodities
Oil prices ended higher on Monday after a trade deal between the U.S. and the EU, and President Donald Trump’s announcement that he would shorten the deadline for Russia to end its war in Ukraine or face sanctions.
