GABS Financial Weekly Market Outlook
Dear Valued Client,
Please find below Nigeria’s Weekly Market Outlook.
Nigeria’s Market Outlook: 6th July - 10th July 2026
GABS Financial Services Limited
During the trading week of Monday, 6th July to Friday, 10th July 2026, the local equities market posted a strong, constructive performance. The All-Share Index (ASI) rose 4.21% week-on-week to 244,029.1 points from an opening of 234,178.28. Market capitalization followed a similar trend, closing at ₦156.59 trillion from an opening of ₦150.27 trillion, registering a 4.21% net increase for the week.
On the macro side, the official Nigerian Foreign Exchange Market (NFEM) rate closed at ₦1,379.62 per USD, depreciating by approximately 0.83% from its opening rate of ₦1,368.27. This movement reflects ongoing fluctuations in foreign exchange supply and demand dynamics. In the global energy sector, Brent crude prices rose by approximately 5.58% to $76.01/bbl, while WTI crude increased by approximately 4.17% to $71.41/bbl. Oil prices saw upward pressure throughout the week primarily due to heightening geopolitical tensions between the United States and Iran. There are concerns regarding potential supply disruptions in the Strait of Hormuz, reigniting supply fears.
GABS View: The past week’s numbers point to a robust rally. The index advanced by over 4% as rebounding global crude oil prices bolstered macroeconomic sentiment. In our view, this backdrop favours holding and gradually adding to fundamentally strong, liquid names and high-yield fixed securities, as the market capitalizes on the energy-driven recovery. We advise investors to remain cautious of currency volatility while leveraging the resilience seen in the oil and gas equities sector.
Partner with GABS Financial to safely navigate market volatilities and maximize fixed-income returns.
Disclaimer: This commentary is for information only and not personal advice.
Note: For professional, tailored investment guidance across equities and fixed-income products, please contact GABS Financial Services Limited on: +234 703 229 0559, +234 809 332 9999
