NGX closed on a marginally bullish note, system liquidity close at ₦5.18trn

The Nigerian equities market closed on a marginally bullish note, with the benchmark All-Share Index (ASI) edging up by 0.01%, bringing its year-to-date (YTD) return to 55.36%.

Trading activity strengthened significantly during the session, as total volume traded increased by 21.69% to 634.31 million shares, while the value of transactions surged by 138.79% to ₦53.41 billion, reflecting improved market liquidity.

Despite the positive close, market breadth remained negative, with 20 stocks recording gains, 19 declining, and eight closing unchanged.
Sectoral performance was mixed, with the Banking Index leading the gainers after advancing 2.28%, supported by renewed buying interest in banking stocks.

Meanwhile, FIRSTHOLDCO emerged as the most actively traded stock by both volume and value, with 326.92 million shares exchanged, accounting for ₦22.33 billion in traded value.

On the gainers’ chart, LEARNAFRCA and FIRSTHOLDCO posted the strongest price appreciation, while INTENEGINS and LEGENDINT led the laggards.

Banking system liquidity improved today, closing at ₦5.18 trillion net. Liquidity saw a boost due to inflows of OMO market repayment overshooting OMO sales. Despite this, Overnight rate surged by 9bps from 22.09% to 22.18%, while the NOFR and Open Repo rate remained unchanged at 22.00%.

In the FGN bond market, positive sentiment picked up after a subdued performance in the previous trading session. However, trading activity remained mixed, but mildly bullish.

The short end of the curve saw the most buying interest with a decrease of 11bps, while longer dated bonds saw slight surge in yield. With that, average yield fell marginally to close at 17.62% from 17.64%.

Meanwhile, the Nigerian Treasury Bills market continued its bullish streak. Investors sentiment remained positive reflecting buying interest across the curve. Average yield declined by 7bps to close at 18.42% from 18.49%.

Today, the Naira depreciated against the U.S. dollar, with the USD/NGN exchange rate rising by 25 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, reflecting the continued strengthening of the country’s external liquidity position.

In the commodities market, Brent crude oil surged by 6.96% to $84.81 per barrel, driven by renewed geopolitical tensions in the Middle East. Prices rallied after the escalation of hostilities between the United States and Iran reignited concerns over potential disruptions to oil supplies through the Strait of Hormuz.