Daily Market Update –December 4, 2012

The Money Market
Rates remained stable in the Money Market today as market liquidity remained at about the same level. The secured OBB and the overnight funds traded at 11.75% and 12% respectively. Rates are expected to remain stable this week due to stability in market liquidity.

Treasury Bills Market
The Treasury Bills Market was quite active today, with intraday volatility seen across board. Yields on the short and medium tenured bills dropped by an average of 0.10% while the long tenured bills remained relatively stable throughout the trading day.

The Bonds Market
The Bond Market was relatively quiet today with few trades across board. However, an average of 10kobo appreciation in price was seen towards close of the trading period. The market is expected to remain at these levels for the better part of the week.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.05 to a dollar with the naira appreciating by 7 kobo due to ease in demand pressures. The naira had appreciated yesterday by 25 kobo.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) turned bullish today, as market capitalisation of equities appreciated marginally by 0.01% to close at ₦8.43 trillion, from ₦8.429 trillion.

The NSE All-Share Index also appreciated by 0.01% to close at 26,382.54 basis points as against yesterday’s record of 26,380.68; putting year-to-date returns at 27.26%.

AFROMEDIA topped the volume chart today with 32.97 million units of shares valued at ₦16.49 million, while MULTIVERSE followed, exchanging 20.01 million worth ₦10.01 million.

Market breadth was positive today with 20 gainers against 17 losers. NCR, STERLNBANK and UBA topped the gainers’ chart, gaining 5.00%, 4.76%, and 4.18% respectively, while REDSTAREX, FCMB and STANBIC led market losers with respective losses of 6.93%, 5.04%, and 4.92%.