…The Naira appreciated by 0.47% to close at ₦1366.80
https://www.digital.zenithbank.com/ZEQ/ZEQ-jan-2026/index.html#p=1The equities market started the week in negative territory, with the NGX All-Share Index (ASI) losing 1.13% to settle at 247,560.66 points. This downward swing was primarily triggered by profit-taking activities following gains in the previous session.
Market activity strengthened during the session, with trading volume surging 54.27% to 1.129 billion shares, while total value traded increased 26.70% to ₦44.46 billion.
Market breadth remained firmly negative, with 28 advancers against 48 decliners, reflecting sustained selling pressure across selected counters.
Across sectors, the banking index dominated market activity, emerging as the most traded sector by both volume and value. Meanwhile, the insurance sector led sectoral gainers, advancing by 0.79%.
On the performance chart, INTENEGINS and CONHALLPLC topped the gainers’ table, while BUACEMENT and TRANSEXPR recorded the steepest losses, leading the laggards’ list.
Fixed Income Market
Banking system liquidity opened the week with a net negative position of ₦4.42 trillion, showing a slight improvement in liquidity conditions. Despite this, the Overnight Rate increased by 5bps, closing at 22.24%, while the Nigerian Overnight Financing Rate (NOFR) and Open Repo Rate remained unchanged at 22.00%.
The FGN bond market commenced the week with mild trading activity. Consequently, average yields remained at last week’s close at 16.31%. Notably, most mid- and long-dated bonds traded muted.
In the Nigerian Treasury Bills market, investor sentiment maintained the rally from the previous week. This supported a modest decline in yields by 3.3bps. Average NTB yields eased marginally to close at 17.42% from 17.46%.
Meanwhile, Nigeria’s Eurobond market saw continued buying interest except for the 2038 bond, which stayed muted. Average yields declined by 2bps to 6.76% from 6.78%. Although global markets remain positive, Iran’s expression of distrust in the negotiations with the US has led to a 5% rise in oil prices. This could risk off sentiment and dampen market participation in following session as geopolitical tension rise.
Currency Market
The Naira appreciated by 0.47% to close at ₦1366.80
Meanwhile, Nigeria’s external reserves sustained their upward momentum, increasing by a further 0.2% to $49.34 billion as of 26 May 2026.
In the commodities market, Brent crude oil prices advanced by 5.8% to settle at $97.38 per barrel. The sharp increase was primarily driven by renewed strains between the United States and Iran, which heightened concerns over potential disruptions to global oil supply.
