The Nigerian equities market closed on a positive note, as the benchmark index advanced by 5bps, bringing the year-to-date return to 60.13%.
Market activity remained mixed, with trading volume rising by 76.54% to 1.05 billion shares, while total value traded declined by 5.36% to ₦31.08 billion.
Despite the increase in trading volume, market breadth remained negative, with 26 gainers against 49 decliners, reflecting bearish sentiment across selected counters.
On the sectoral front, the banking sector dominated trading activity. Meanwhile, the consumer goods sector emerged as the best-performing sector, posting a daily gain of 0.52%.
On the performance chart, INTENEGINS and ABCTRANS Plc led the gainers’ table, while BERGER and LEARNAFRCA topped the laggards’ list.
On the corporate front, several companies announced upcoming Annual General Meetings (AGMs).
Fixed Income Market
Today, system liquidity settled at a net negative position of ₦5.90 trillion as primary market repayments mopped up funds. This led to a 4bps surge in the Overnight Rate. Meanwhile, the Nigerian Overnight Financing Rate (NOFR) and the Open Repo Rate remained unchanged at 22.00%.
Trading activities in the FGN bond market were largely muted, with the average yield maintaining the previous trading session’s close at 16.21%.
In the NTB market, trading activity rebounded mildly, nudging average yields slightly lower by 2.7bps. At this week’s auction, the stop rate for 90-day bills held at 15.95%, while the 180-day and 364-day bills dipped to 16.14% and 16.149%, respectively. This followed oversubscription, with bid-to-offer ratios of 1.62x for 180-day bills and 3.68x for 364-day bills.
In Nigeria’s Eurobonds market, investor sentiment edged up slightly, lowering the average yield by 2.3bps to 6.98% from 7.01%. Longer-dated bonds were favoured in today’s session, reflecting increased interest in duration amid improving global market conditions.
Currency Market
Today, the naira appreciated against the dollar at the NAFEM window, with the USD/NGN pair declining by 10bps to close at ₦1,373.00.
Meanwhile, Nigeria’s external reserves sustained their upward trajectory, rising further by 7bps to $48.72 billion as of 19 May 2026. The continued increase in reserves was largely driven by improved foreign exchange inflows and stronger oil export earnings.
In the commodities market, Brent crude oil prices rose marginally by 0.4% to settle at $107.27 per barrel. The increase was primarily supported by renewed geopolitical tensions in the Middle East.
