NGX benchmark All-Share Index rose by 0.25%, banking system liquidity close at ₦5.27trn net

The Nigerian equities market closed on a bullish note, with the benchmark All-Share Index (ASI) advancing by 0.25%, bringing its year-to-date (YTD) return to 55.75%.

Despite the positive close, trading activity weakened during the session. Total trading volume declined by 24.98% to 475.87 million shares, while the value of transactions fell by 44.40% to ₦29.69 billion.

Market breadth remained positive, with 27 gainers, 15 losers, and 11 unchanged stocks, reflecting sustained buying interest across select counters.

Sectoral performance was mixed, with the Banking Index emerging as the best-performing sector, rising 2.20% on the back of renewed buying interest in banking stocks.

Meanwhile, FIRSTHOLDCO dominated market activity, emerging as the most actively traded stock by both volume and value, with 78.66 million shares exchanged worth ₦6.19 billion.

On the gainers’ chart, FIRSTHOLDCO and THOMASWY recorded the strongest price appreciation, while TRANSEXPR and INTBREW led the losers.

On the corporate front, several listed companies announced the dates for their forthcoming Annual General Meetings (AGMs)

Banking system liquidity further improved, closing at ₦5.27 trillion net. Liquidity saw a boost due to inflows of OMO and Primary market repayment overshooting OMO sales. This led to a slight decline in Overnight rate from 22.18% to 22.16%, while the NOFR and Open Repo rate remained unchanged at 22.00%.

The FGN bond market was largely muted, as yields of most bonds at the short and mid segments of the curve were unchanged from the previous close as inflation numbers printed at 15.91%, decelerated mildly from 15.93% in June 2026. With that, average yield fell marginally to close at 17.63% from 17.62%.

Meanwhile, the Nigerian Treasury Bills market paused from its bullish streak. While investors sentiment remained positive, sell pressure in few bills like the 22 Oct 2026, 07 Jan 2027 and 11 Mar 2027 which surged by 11bps, 13bps and 26bps respectively, weighed on performance. With that, average yield remained unchanged to close at 18.41%.

Furthermore, the Nigeria Eurobond market maintained its bullish performance across the curve except the 2051 bond. With that, average yield dropped 4bps closing at 6.89% from 6.93%.

Today, the naira appreciated against the U.S. dollar, with the USD/NGN exchange rate declining by 10 basis points to close at ₦1,379.65/$.

Meanwhile, Nigeria’s external reserves maintained their upward trajectory, increasing by a further 0.1% to $51.57 billion as of 6 July 2026. The continued build-up in reserves reflects the strengthening of the country’s external liquidity position.

In the commodities market, Brent crude oil eased by 0.26% to $84.59 per barrel. The modest decline reflected profit-taking by investors following the recent sharp rally in oil prices, even as geopolitical tensions in the Middle East continued to underpin supply concerns.