BanksEquity
Tier-1 banks continue earnings-led re-rating
GTCO, ZENITHBANK and UBA added ₦42bn in market cap this week as the curve prices a Q3 cut.
Morning briefing — Thursday 11 June 2026
Home Intelligence Dashboard
Live snapshot of Nigerian markets, sectors, macro indicators, intelligence feeds, watchlists and alerts.
Market Snapshot
NGX live · delayed 15 min
NGX All-Share Index
104,217.42
+0.83%vs prev close
Market Cap
₦40.0T
+0.72%NGX equity board
Volume Traded
177.4M
+4.60%units · today
Value Traded
₦94.8B
+6.20%naira · today
Market Breadth
20↑ / 9↓
0 unchanged · 29 tickers
Advance / Decline
2.22
+37.93%A/D ratio
Top gainers
BullishTop losers
BearishMost active
Sector Heatmap
Growth · risk · sentiment across 12 sectors
Banking
Weight 18.3% · YTD +18.4%
Risk: ModerateBullishUpdated 2 min ago
Insurance
Weight 1.6% · YTD +11.2%
Risk: LowNeutralUpdated 5 min ago
Oil & Gas
Weight 11.3% · YTD +22.5%
Risk: ElevatedBullishUpdated 1 min ago
FMCG
Weight 14.8% · YTD +7.2%
Risk: ModerateNeutralUpdated 3 min ago
Agriculture
Weight 2.7% · YTD +28.9%
Risk: LowBullishUpdated 6 min ago
Pharmaceuticals
Weight 1.4% · YTD +9.8%
Risk: LowNeutralUpdated 8 min ago
Manufacturing
Weight 31.6% · YTD +12.7%
Risk: ModerateNeutralUpdated 4 min ago
Telecoms
Weight 12.4% · YTD -3.1%
Risk: ElevatedBearishUpdated 2 min ago
Power & Energy
Weight 0.9% · YTD -6.4%
Risk: HighBearishUpdated 12 min ago
Real Estate / Construction
Weight 1.2% · YTD +4.6%
Risk: ModerateNeutralUpdated 9 min ago
Fintech & Payments
Weight 1.7% · YTD +15.6%
Risk: ElevatedBullishUpdated 1 min ago
Pensions & Asset Mgmt
Weight 1.1% · YTD +14.1%
Risk: LowBullishUpdated 7 min ago
Macro Snapshot
NBS · CBN · DMO · FMDQ · ICE
Inflation
21.18
-1.42%% y/y · NBS
Real GDP
3.46
+0.32%% y/y · NBS
Policy Rate
22.50
0.00%% · CBN
NGN / USD
1,480.2
-0.45%₦/$ · CBN/NAFEM
Brent Crude
78.40
+0.82%$/bbl · ICE
Reserves
41.80
+1.85%$bn · CBN
T-Bill 91D
16.85
-0.25%% · CBN
Intelligence Feed
Reports · briefs · filings · circulars · corporate actions · credit benchmarks
- Market Report08:42NGX H2 2026 Outlook — Rotation Into Earnings QualityProshare Research
- Sector Brief08:15Tier-1 Banks: Recapitalisation Progress TrackerProshare Banking Desk
- Company Update07:58DANGCEM publishes Q1 2026 Trading UpdateNGX X-Issuer
- Regulatory Circular07:32CBN: Revised FX Position Limits for DMBsCentral Bank of Nigeria
- Corporate Action07:12GTCO board recommends interim dividend of ₦1.50/shareGTCO Investor Relations
- Credit Benchmark06:55FGN 10Y yield benchmark recalibrated — 18.62%Proshare Credit Intelligence
AskProshare insights
CopilotMacroRates
FGN curve steepening sustained
10Y FGN yields fell 18bps w/w to 18.62%; real rates remain positive — constructive for credit.
CementSector
BUACEMENT margin gap vs DANGCEM narrowing
Energy-cost pass-through improving; ~200bps EBITDA margin expansion into FY26 plausible.
Watchlist
Companies · sectors · macro · corporate actions · regulatory
Alerts
Filings · sector risk · macro · corporate · regulatory
- Filing09:04ZENITHBANK filed FY2025 Audited StatementsPBT ₦1.18tn (+22% y/y); proposed final dividend ₦4.00
- Sector Risk08:48Power & Energy risk score raised to HighLiquidity stress in NBET settlements; +1 notch downgrade
- Macro Update08:30NBS Headline CPI: 21.18% (-142 bps m/m)Disinflation tracking faster than consensus 21.6%
- Corporate Action08:11MTNN AGM scheduled — 28 June 2026Board to seek shareholder approval on capital raise
- Regulatory07:42SEC circular on Digital Asset IssuersNew disclosure framework effective Q3 2026
Credit Pulse
Tracked issuers · 1Y PD and spread snapshot
| Issuer | Type | Proshare Rating | 1Y PD | Spread (bps) | Outstanding | Watch |
|---|---|---|---|---|---|---|
| Federal Government of Nigeria | Sovereign | Caa1.ng | 4.80% | 0 | ₦142.00T | Positive |
| Lagos State Government | Sub-sovereign | A1.ng | 0.90% | 180 | ₦1.10T | Stable |
| Guaranty Trust Holding Co. | Bank | Aa2.ng | 0.60% | 240 | ₦480.00B | Stable |
| Dangote Cement Plc | Corporate | Aa3.ng | 0.80% | 310 | ₦720.00B | Stable |
| MTN Nigeria | Corporate | A2.ng | 1.40% | 380 | ₦530.00B | Negative |
| Seplat Energy Plc | Corporate | A3.ng | 1.90% | 520 | ₦380.00B | Positive |