Markets

Stock market hits level not seen since 2008

(Photo L-R:  Oscar Onyema, NSE CEO; Alhaji Aliko Dangote, President of Council, NSE; and Josephine Igbinosu, Head, NSE’s Listings Regulation at the NSE 52nd Annual General Meeting (AGM) in Lagos on Friday)

The Nigerian Stock Exchange (NSE) index rose by almost two percent on Friday to a level last seen in 2008, helped by gains in conglomerate, banking and cement stocks.

Daily Market Update –May 02, 2013

The Money Market
Interest rates fell from previous closing levels today due to the ₦195 billion T-bill maturity credited into the system. Hence, the secured OBB and overnight funds traded at 10.5% and 10.75% respectively.

Treasury Bills Market
The Treasury bills market witnessed renewed interest on the short and medium tenured bills dropping yields by an average of 0.10%. However, yields on the long tenured bills increased by an average of 0.20% due to the ₦100 billion OMO auction for settlement today.

Daily Market Update –April 30, 2013

The Money Market
Funds traded at previous closing levels for most part of trading hours today. However, after the OMO Auction settlement of ₦132 billion (which was above the amount of T-bills on offer), rates rose steeply by an average of 1.00%. As a result, the secured OBB and overnight funds traded at 10.25% and 10.5% but eventually closed at 11.25% and 11.50% respectively.

Treasury Bills Market

Daily Market Update –April 29, 2013

The Money Market
Despite the OMO auction today, interest rates remained stable at previous closing rates as the market is still liquid. Consequently, the secured OBB and overnight funds traded at 10.25% and 10.50% respectively.

In the absence of aggressive monetary tightening activities by the CBN, funds are expected to trade at current levels through the week as there will be a credit of ₦195 billion T-bills maturities towards the end of the week.

Treasury Bills Market

Daily Market Update –April 26, 2013

The Money Market
The market remained liquid as a result of the ₦215 billion net cash credit. Regardless of the ₦102 billion mopped up by the CBN via the special OMO auction, rates remained stable at previous closing levels. Consequently, the secured OBB and Overnight Funds traded at 10.25% and 10.50% respectively.

Treasury Bills Market

Daily Market Update –April 25, 2013


The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) turned bearish today, as market capitalisation of equities depreciated by 0.46% to close at ₦10.64 trillion, from ₦10.69 trillion.

The NSE All-Share Index depreciated by 0.48% to close at 33,271.34 basis points as against yesterday’s figures of 33,432.68; putting year-to-date returns at 18.49%.

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