DAILY NIGERIAN FOREIGN EXCHANGE MARKET (NFEM) RATES (₦/US$)
Moving Average = 1,446.1242 (NFEM)
Previous Average = 1,450.0038
Change = +0.2676%
Forex Analysis
Our moving average improved by about 0.2676% this week primarily as a result of the CBN’s continued interventions via the Electronic Foreign Exchange Management System (EFEMS), thus boosting liquidity and transparency.
The improved exchange rate was further helped by the fact that there was a moderation in demand in the parallel leading to a narrowing in the gap between the official and parallel rates compared to earlier with the spread hovering between ₦20–25 per dollar. The demand by importers securing year-end importers and holiday travelers eased somewhat as the CBN intervention improved the official window liquidity.
Daily Crude Oil Prices
Moving Average = $63.00
Previous Average = $62.75
Change = +0.3984%
Crude Oil Analysis
Our Brent crude moving average improved by 0.3984%. This was driven by traders’ belief that OPEC+ would maintain production restraint, preventing oversupply. This provided a floor under prices, keeping Brent stable above $62.
Further helping the price of oil was U.S inventory data suggesting that crude stockpiles were slightly lower, suggesting stronger demand.
Energy markets were cautious but steady this week, with Asian demand showing resilience but concerns about slower European growth capped upside momentum, keeping gains modest.
NGX Top 10 Gainers for the week closing 5th Dec 2025
NGX Top 10 Losers for the week closing 5th Dec 2025
Stock Market Index Activity for the week closing 5th Dec 2025
Stock Market Index Analysis
Fifty-five (55) equities appreciated in price during the week, higher than thirty-eight (38) equities in the previous week. Twenty-nine (29) equities depreciated in price, lower than thirty-six (36) equities in the previous week, while sixty-three (63) equities remained unchanged, lower than seventy-three (73) recorded in the previous week.
Good news in the equities market. The All-Share Index (ASI) reversed its 5 week losing streak, rising by 2.45% this week. This week’s market activity showed strong positive market breadth, with Dangote Cement, Guinness Nigeria, Nigerian Breweries, and UACN all posting gains, reflecting renewed interest in blue chip stocks.
Aviation (Skyway Aviation Handling), mining (Multiverse), and manufacturing (Morison Industries, NCR Nigeria) also rallied, showing broad‑based buying across sectors.
The key drivers of this week’s market activity include:
- Improved liquidity, as indicated by more buying interest across sectors thus lifting overall market breadth.
- Portfolio rotation as investors shifted into stronger blue‑chip names (Dangote Cement, Guinness, Nigerian Breweries) while trimming positions in weaker small caps.
- Year‑end positioning as institutional investors often rebalance portfolios ahead of December, boosting demand for stable, dividend‑paying stocks.
- Sentiment boost as the rise in gainers vs losers suggests confidence in macroeconomic stability and corporate earnings outlook.
Daily Bitcoin Prices
Moving Average = $92,616.76
Previous Average = $88,972.06
Change = +4.0965%
Bitcoin Analysis
Our bitcoin moving average improved markedly by 4.0965%. This was the result of continued inflows into U.S. spot Bitcoin Exchange Traded Funds (ETFs) which boosted confidence, and signaled strong institutional participation.
In addition, global risk appetite improved as U.S. inflation data came in softer than expected, raising hopes of easier monetary policy.
Furthermore, traders positioned ahead of the 2026 Bitcoin halving, with sentiment turning bullish on reduced future supply.
Bitcoin halving is a process that reduces the number of new bitcoins created and earned by miners to half of what it used to be. The next halving event is scheduled for April 2026. This built‑in mechanism happens roughly every four years and is designed to control Bitcoin’s supply, making it scarcer over time.
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