The Money Market
The Money Market remained liquid regardless of The CBN’s Open Market Operations. Interest rates therefore remained at the same levels all through the day with the secured OBB and the overnight funds trading at 10.25% and 10.50% respectively.
The Bonds Market
The FGN Bond Market remained quiet all through the day.
The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦156.95 to a dollar with the naira appreciating further by 85 kobo due to ease in demand pressures. Inflow from an oil company estimated at $58.5 million contributed to the appreciation of the naira. The naira had appreciated yesterday by 25 kobo.
The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) remained bullish today, as market capitalisation of equities appreciated by 0.50% to close at ₦8.91 trillion, from ₦8.86 trillion.
The NSE All-Share Index also appreciated by 0.46% to close at 27,866.51 basis points as against yesterday’s record of 27,737.69; putting year-to-date returns at 34.42%.
FIRST CITY MONUMENT BANK topped the volume chart today with 30.29 million units of shares valued at ₦101.59 million, while UBA followed, exchanging 16.30 million worth ₦72.99 million.
Market breadth remained positive today with 25 gainers against 11 losers. NASCON, UAC-PROP and CUSTODYINS topped the gainers’ chart, gaining 8.14%, 7.27%, and 6.40% respectively, while NESTLE, DANGSUGAR and STERLNBANK led market losers with respective losses of 0.01%, 0.17%, and 0.59%.