System Liquidity
Strong liquidity kept interbank rates stable. OPR held at 26.50%, while O/N rate edged up 2bps to 26.94%.
Treasury Bills
Muted secondary market activity as focus shifted to NTB auction. DMO fully allotted ₦162.02bn with stop rates dropping across all tenors, notably the 364-day bill falling 51bps to 18.84%. NTB yields closed flat at 19.30%.
FGN Bonds
Bonds traded moderately with bullish bias. Demand picked up in April 2029s, Feb 2031s, May 2033s, and Mar 2035s, pulling average yields down 9bps to 18.43%.
Eurobonds
African Eurobonds rallied on improved sentiment ahead of Fed decision. Nigerian papers outperformed, with yields tightening 14bps to 8.92%. Fed held rates but projected stagflation risks, reducing rate cut outlook due to persistent inflation.
Nigerian Equities
ASI rose 1.63% to 116,786.87 as banks and oil majors drove gains. ZENITHBANK, GTCO, UBA, SEPLAT, and MTNN led rally. Turnover hit $16.8m. Consumer stocks dipped slightly; insurance and industrials posted mixed performance.
Foreign Exchange
The Naira weakened marginally by 26bps to $/₦1,549.21 amid steady interbank liquidity and rising FX demand. Trades ranged between ₦1,547.50 and ₦1,551.00 in the NFEM market.
Commodities
Oil rose modestly after a volatile session as Iran-Israel tensions sparked supply fears. Brent closed at $76.70. Gold slipped 0.4% as Fed held rates and signaled fewer cuts, citing persistent inflation risks.
