Markets

Daily Market Update –February 13, 2013

The Money Market
As expected, market liquidity shrunk further today due to NNPC withdrawals from the system. However, interest rates remained at the same levels. Consequently, the secured OBB and overnight funds traded circa 14.50% and 14.75% respectively. Market liquidity is expected to improve tomorrow following the credit of T-bills maturity totalling ₦190 billion.

Treasury Bills Market

Daily Market Update –February 12, 2013

The Money Market
Market liquidity fell sharply, opening today, as a result of the NNPC withdrawals. Consequently, rates went up by an average of 0.50%; the secured OBB and Overnight funds traded at 14.50% and 14.75% respectively. Market liquidity is expected to shrink further due to NNPC withdrawals; while it will eventually improve towards the end of the week upon the credit of T-bills maturity.

Treasury Bills Market

Daily Market Update –February 11, 2013

The Money Market
The WDAS and OMO debits on Friday, last week, caused a drop in market liquidity. Hence, the market opened at a 2-week record law, resulting in a spike in rates by 0.75%. Consequently, the secured OBB and the Overnight funds traded at 14.00% and 14.25% respectively. Market liquidity is expected to shrink further due to NNPC withdrawals and eventual improvement towards the end of the week upon the credit of T-bills maturity.

Treasury Bills Market

Stock Market Weekly Summary: February 8, 2013

A turnover of 3.57 billion shares worth ₦24.69 billion in 39,321 deals were transacted last week on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.81 billion shares valued at ₦22.19 billion in the previous week in 33,123 deals.

The Financial Services sector sustained its dominance as the most active during the week, contributing 70.75%, 66.16%, 58.71% to the total equity turnover volume, value and number of trades respectively in 2.53 billion shares valued at ₦16.34 billion.

Daily Market Update –February 6, 2013

The Money Market
Interest rates dropped by an average of 0.50% due to the level of liquidity in the money market. Excess crude funds estimated at ₦75 billion also hit the system thereby dropping rates further to sub 11%. The market is expected to remain liquid, however, the CBN may likely mop up excess funds from the system via OMO.

Treasury Bills Market

Daily Market Update –February 4, 2013

The Money Market
Liquidity in the Money Market remained stable causing rates to remain unchanged. As a result, the secured OBB and the overnight funds traded at previous close; 11.75% and 12.00% respectively. The market expects NNPC remittances to commence this week, which would cause rates to trend northwards.

Treasury Bills Market
The Treasury Bills Market was fairly active today with intraday activities witnessed mainly on the medium tenured bills. Yields were stable across board and closed around opening levels.

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