(Photo L-R: The wife of former British Prime Minister, Mrs. Cherie Tony Blair; Head, Corporate Division, NSE, Mr. Bola Adeeko; Founder and Chief Executive Officer, Henshaw, Barbara James and Head, Corporate Communication, NSE, Mr. Dante Martins at the courtesy visit of the former British Prime Minister’s wife to The Exchange today.)
The Money Market
The money market was relatively stable today with interest rates trading flat at 12% and 12.25% for the secured OBB and overnight funds. Interest rates are expected to trend downward in anticipation of statutory funds hitting the system this week.
Treasury Bills Market
The T-bills market was in a bullish mood today with a slight drop in yields by an average of 0.10% across board. Emphasis was centred on the July 2013 bills which dropped by an average of 0.15%.
The Bonds Market
The bond market opened relatively stable with maturities trading at previous closing levels. Prices closed slightly lower than opening levels due to minimal trading activities.
The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.85 to a dollar with the naira depreciating by 20 kobo due to demand pressures. Unspecified inflows from some oil companies prevented further depreciation of the naira.
At the WDAS auction held today, the Central Bank sold $232.48 million at ₦155.75 to the dollar against the $300.00 million it sold at the ₦155.75 during last Wednesday’s auction.
The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) remain bullish today, as market capitalisation of equities appreciated by 0.06% to close at ₦10.72 trillion, from ₦10.71 trillion.
The NSE All-Share Index also appreciated by 0.06% to close at 33,532.89 basis points as against last Friday’s figures of 33,514.14; putting year-to-date returns at 19.42%.
ACCESS BANK topped the volume chart today with 70.43 million units of shares valued at ₦641.28 million, while ZENITH BANK followed, exchanging 37.71 million worth ₦756.38 million.
Market breadth was positive today with 35 gainers against 19 losers. CUTIX, UNITYBNK and UBA topped the gainers’ chart, gaining 10.00% each respectively, while LEARNAFRCA, ABCTRANS and IHS led market losers with respective losses of 9.94%, 9.86% and 9.43%.
Meanwhile, the wife of former British Prime Minister, Mrs. Cherie Tony Blair, paid a courtesy visit to the Exchange today.