DAILY NIGERIAN FOREIGN EXCHANGE MARKET (NFEM) RATES (₦/US$)
Moving Average = 1384.36 (NFEM)
Previous Average = 1,367.3457
Change = -1.2443%
Forex Analysis
Our naira to dollar moving average fell by about 1.2% this week. The week was marked by initial stability, followed by mid‑week depreciation as liquidity tightened and FX demand rose. CBN conducted OMO and Treasury bill auctions to mop up excess naira liquidity, but FX demand still outpaced supply. Oil receipts and reserves provided some support, but geopolitical volatility (oil price swings) created uncertainty. While confidence improved earlier in March, mid‑week volatility reminded investors of structural FX pressures.
Daily Crude Oil Prices
Moving Average = $104.72
Previous Average = $110.4
Change = -5.1450%
Crude Oil Analysis
Our Brent crude moving average fell by about 5%, reflecting a week of sharp volatility and correction after earlier geopolitical‑driven spikes. Elevated prices reflected lingering geopolitical risk premiums from Middle East tensions. As supply fears eased and traders reassessed the actual damage to Iran’s gasfield, Brent crude saw heavy selling, dropping nearly $15 in two days. Prices steadied around $101–102 as markets balanced geopolitical risk with fundamentals like demand outlook and OPEC+ supply discipline.
NGX Top 10 Gainers for the week closing 27th Mar 2026
NGX Top 10 Losers for the week closing 27th Mar 2026
Stock Market Index Activity for the week closing 27th Mar 2026
Stock Market Index Analysis
Forty-seven (47) equities appreciated in price during the week, lower than forty-eight (48) equities in the previous week. Forty-five (45) equities depreciated in price, higher than forty-three (43) equities in the previous week, while fifty-six (56) equities remained unchanged, lower than fifty-seven (57) recorded in the previous week.
The Nigerian equities market this week showed a mixed but slightly bearish tilt, with fewer gainers and more losers compared to the previous week.
After earlier rallies, investors rotated out of some consumer and industrial names, leading to broader declines.
Investors selectively bought into agriculture, telecoms, and aviation stocks.
Profit‑taking and FX‑related cost pressures weighed on consumer goods, healthcare, and banking.
Fixed-Income Analysis
This week activity in fixed-income markets reflected CBN’s balancing act of raising funds for the government, managing liquidity, and stabilizing FX markets amid naira weakness and oil price volatility.
In Nigerian Treasury Bills (NTBs), the CBN conducted auctions to raise short‑term financing for the government. Demand remained strong, but stop rates edged higher as investors sought compensation for inflation and FX risks. The large issuances earlier in March (over ₦3 trillion in two weeks) meant investors were selective, leading to tighter liquidity conditions.
In FGN Bonds, longer‑tenor bonds continued to be offered via the Debt Management Office (DMO). Yields stayed elevated (15–17% range), reflecting inflationary pressures and fiscal deficits. Institutional investors (pension funds, insurance companies) maintained interest, but secondary market activity was cautious given naira depreciation.
Yields on OMO bills remained attractive, drawing banks and foreign portfolio investors seeking short‑term returns.
CBN Bills helped absorb naira liquidity and reinforce monetary policy objectives. Their issuance signaled the CBN’s determination to keep inflation expectations anchored despite FX pressures.
Daily Bitcoin Prices
Moving Average = $67,714.3
Previous Average = $72,130.82
Change = -6.1230%
Bitcoin Analysis
Our bitcoin moving average fell by about 6%, reflecting a week of sharp volatility and profit‑taking after earlier gains.
After strong rallies earlier in March, traders locked in gains, leading to sell‑offs. Bitcoin’s moves mirrored oil’s volatility — rising when geopolitical fears spiked, then falling as risk premiums unwound. Institutional investors rotated into safer assets as Brent crude corrected, reducing speculative demand for Bitcoin. Daily swings of 3–5% underscored Bitcoin’s sensitivity to global risk sentiment and speculative flows.
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