Weekly Market Snapshot: Stability Amid Cautious Optimism

Market Overview




The Nigerian financial markets delivered a mixed yet broadly stable performance in the week ended 14th November 2025. The NGX All-Share Index oscillated throughout the week — rallying on Tuesday, softening slightly on Wednesday due to profit-taking, rebounding strongly on Thursday, and finishing Friday largely flat — underscoring a market shaped by cautious but gradually improving investor confidence.

Commodity markets provided additional support, with Brent crude holding mostly in the upper US$60s per barrel on the back of sustained OPEC+ supply cuts and improving global demand expectations. Gold prices also remained firm, driven by persistent safe-haven demand as geopolitical risks and uncertainty around global monetary policy continued to influence investor behaviour.

The foreign exchange market remained relatively stable, with the naira trading within a narrow band across both the official and parallel windows. A brief widening of the FX spread midweek, triggered by speculative demand, was quickly corrected as the CBN maintained consistent interventions and liquidity support. The currency’s resilience was reinforced by steady external reserves, which closed the week at approximately US$34.9–US$34.95 billion, reflecting healthy oil receipts and moderated outflows.

Fixed-income markets were equally stable, with 10-year bond yields moving only slightly between 15.2% and 15.3%, while Treasury bill rates stayed elevated around 19.75%–19.90% amid tight system liquidity. Sentiment was generally defensive as investors awaited clearer policy signals ahead of the coming MPC meeting.

Macroeconomic conditions showed little change: inflation held steady at 27%, supported by FX stability and improved food supply, even as transport and energy costs continued to pose upward risks. Overall, the week reflected cautious optimism, supported by firmer oil prices, stable reserves, steady FX conditions, and selective buying interest — although broader participation remained moderated by high interest rates, profit-taking, and persistent global uncertainty.

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