System Liquidity
System liquidity opened with a surplus of ₦6.62 trillion, slightly higher than the previous day, largely supported by ₦6.19 trillion in DMB placements at the CBN’s Standing Deposit Facility. Despite the ample liquidity, the Nigerian Overnight Financing Rate (NOFR) remained unchanged at 22.00%.
Treasury Bills
The NTB secondary market traded flat as investors remained cautious ahead of the auction outcome. The DMO allotted ₦731.75 billion across the 91-, 182-, and 364-day tenors at stop rates of 15.95%, 16.14%, and 16.15%, leaving the average benchmark yield unchanged at 16.02%.
FGN Bonds
The FGN Bond secondary market was largely quiet, with subdued activity and broadly stable yields across the curve. Mid-tenor bonds recorded marginal movements, while the average benchmark yield held steady at 15.77%.
Eurobonds
The Nigerian Sovereign Eurobond market strengthened amid improved global risk sentiment, supported by easing geopolitical tensions and selective risk-taking. Yields declined across maturities, with notable compression in the mid-curve, bringing the average benchmark yield down to 6.72%.
Nigerian Equities
The equity market closed higher, with the NGX All-Share Index rising by 41bps to 242,729.51 and market capitalization increasing by ₦628.53 billion to ₦155.78 trillion. Gains were driven by renewed buying interest in medium- and large-cap stocks, while market breadth remained positive with 47 gainers against 22 losers.
Foreign Exchange
The naira appreciated by 67bps at the NFEM, gaining ₦9.22 to close at ₦1,357.34/$, supported by strong FX demand and continued CBN interventions. External reserves edged slightly lower to $48.33 billion.
Commodities
Global oil prices fell sharply, with Brent crude down 7.26% to about $101.89 per barrel and WTI declining 7.03% to around $95.08, amid easing Middle East tensions. Gold prices moved higher, with spot gold gaining 2.11% to approximately $4,691/oz as investors sought safe-haven assets.
