Daily Market Update –December 27, 2012

The Money Market
The money market remained liquid and was boosted by a net cash credit of ₦142 billion (treasury bills maturity), as a result rates came down by about a 1.00% from previous close.

Rates on the secured borrowings and overnight funds remained at 10.25% and 10.50% respectively.

The Bonds Market
The FGN Bond Market witnessed no activity today as this is due to the festive season break.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.25 to a dollar with the naira appreciating by 25 kobo due to ease in demand pressures. Inflow from some oil companies estimated at $48 million contributed to the appreciation of the naira. The naira had depreciated yesterday by 5 kobo.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) turned bullish today, as market capitalisation of equities appreciated by 1.43% to close at ₦8.86 trillion, from ₦8.74 trillion.

The NSE All-Share Index also appreciated by 1.43% to close at 27,737.69 basis points as against Monday’s record of 27,346.66; putting year-to-date returns at 33.80%.

TRANSNATIONAL CORPORATION topped the volume chart today with 60.32 million units of shares valued at ₦59.22 million, while UBA followed, exchanging 35.73 million worth ₦160.62 million.

Market breadth was positive today with 23 gainers against 12 losers. FIDSON, OKOMUOIL and DANGCEM topped the gainers’ chart, gaining 8.00%, 5.00%, and 5.00% respectively, while FO, INTBREW and TRANSEXPR led market losers with respective losses of 4.92%, 0.94%, and 4.79%.