Daily Market Update –February 5, 2013

The Money Market
The Money Market remained liquid as interest rates remained unchanged throughout the day. The secured OBB and the overnight funds closed at 11.00% and 11.50% respectively. Rates are expected to remain at these levels closing the week.

Treasury Bills Market
Activity in the Treasury Bills Market improved today with intraday trading witnessed across most tenured maturities. Yields on the short and medium tenured bills went up by about 0.15% and 0.10% respectively while the long tenured bills remained relatively stable.

The Bonds Market
The Bond Market was quite bullish today with volatility witnessed across board. Demand was generally strong across board with prices going up by an average of about 40 kobo with emphasis on the Jan 2022.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.30 to a dollar with the naira appreciating by 10 kobo due to ease in demand pressures. Inflows from an oil company estimated at $89 million contributed to the appreciation of the naira. The naira had depreciated by 5 kobo yesterday.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) remained bullish today, as market capitalisation of equities appreciated further by 1.16% to close at ₦10.58 trillion, from ₦10.46 trillion.

The NSE All-Share Index also appreciated by 1.16% to close at 33,064.37 basis points as against yesterday’s figures of 32,685.03; putting year-to-date returns at 17.76%.

ACCESS BANK topped the volume chart today with 112.64 million units of shares valued at ₦1.35 billion, while TRANSCORP followed, exchanging 50.98 million worth ₦87.50 million.

Market breadth was positive today with 61 gainers against 8 losers. UBN, DANGSUGAR and WEMABANK topped the gainers’ chart, gaining 10.00%, 9.95%, and 9.90% respectively, while ETERNA, FO and JOHNHOLT led market losers with respective losses of 4.97%, 4.96% and 4.94%.