Business
THE Nigerian equities market closed on a bullish note, as the benchmark index advanced by 0.70%, pushing the year-to-date return above 32%.
According to VNL Capital Asset Management Limited, Market activity strengthened, as trading volume rose by 21.19%, indicating renewed investors participation. However, total trade value declined by 0.70%.
In a statement sent to Realness via email on Tuesday, April 14, the company said, market breadth was positive, with 48 gainers against 27 decliners, reflecting improved investor sentiment and supporting the overall upward movement in the index.
On the performance front, ETI and STANBIC led the gainers, while FTGINSURE recorded the highest loss, followed by MCNICHOLS.
Sectoral performance was broadly positive, with the Oil & Gas sector outperforming the benchmark index, supported by gains in ARADEL. In terms of corporate disclosures, GUINNESS and ETI released their financial statements, with GUINNESS also announcing an interim dividend payment.
Fixed Income Market
The interbank market closed flat today, with both OPR and O/N rates unchanged.
Meanwhile, sentiments in the local bond market were largely muted, as yields declined marginally by 1.8bps despite only one maturity recording an uptick. Specifically, the 21-Feb-2034 instrument saw a 19bps increase in yield, while short-dated papers declined by 2bps and the long end remained unchanged.
In the NTBills market, activities were broadly bullish, reflected in an average yield decline of 5.5bps. However, a 23bps uptick on the 4-Jun-2026 paper pushed short-end yields up by 0.2bps, contrasting with the decline of 0.78bps and 1.8bps at the mid and long ends of the curve, respectively. The market expects tomorrow’s inflation reading to guide the next trading direction.
In the Eurobond market, weaker demand as projected by IEA dragged crude prices below $100 per barrel, supporting an average of 14.5bps decline in Nigeria’s bond yields. The most notable contractions were seen in the 2031 and 2032 maturities, which both declined by 20bps.
Currency Market
The Nigerian naira eased modestly against the dollar today, closing at ₦1,343.77 after a 1.0% slip. The pair has now declined, 2.5% month-to-date, and 6.0% year-to-date.
Meanwhile, as of April 10, 2026, foreign reserves declined further by $38.5 million to $48.80 billion. This brings total depletion to $1.2 billion from the $50 billion peak recorded on December 3, 2025, highlighting the sustained pressure on the nation’s external buffer.
Elsewhere, Brent crude dipped 5.9% as investors absorbed the pessimism from IEA’s demand outlook in the oil market.
A.I
April 15, 2026
Tags: VNL Capital Asset Management Limited