The Nigerian naira fell against the US dollar in the foreign exchange (FX) market as demand pressure began to take shape. Spot FX data from the FMDQ platform

Bargain hunting in Nigeria’s sovereign Eurobonds market across the short, mid, and long ends of the yield curve

The average yield on Nigerian Treasury bills dipped to approximately 25.6% in the secondary market despite quite a trading session at the beginning of the New Year. Trading volumes remained low as most market participants have yet to resume activities for the year fully, according to fixed income market analysts’ notes.

Nigeria’s top five banks that need no introduction have extended their market value due to investors’ position taking in tier-1 stocks. Details gathered by MarketForces Africa showed that the combined market value of the top five banks surged past N6.2 trillion in the local bourse on Friday close. 

Equities market capitalisation of the Nigerian Exchange (NGX) expanded by about N248 billion on Friday due to sustained rally on growth stocks. Trading data showed that the local bourse ended first week of the New Year in the green. Key market performance indicators increased by +0.64% in the first two trading days of the year.

Yield on Nigeria’s Eurobond Declines to 9.6% Nigeria’s sovereign Eurobonds market experienced buy pressure across…