Daily Market Update –January 3, 2013

The Money Market
Market remained liquid today, despite the announcement of the OMO auction for settlement today. Consequently, the secured OBB and the overnight funds closed at 10.25% and 10.50% respectively.

Treasury Bills Market
The Treasury Bills Market was quite active today with yields dropping an average of 0.10% across board. Major activity was witnessed on the next 91 day bill to be re-opened at the Primary auction which dropped by 0.75% to close at 12.15 offer.

The Bonds Market
The bullish trend continued in the market and price appreciation of an average of ₦1 was witnessed across all trading bonds. The most actively traded bonds for the day were the May 2018, Oct. 2019 and Jan. 2022 whose yields went down by 0.53%, 0.27% and 0.18% respectively.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦156.52 to a dollar with the naira appreciating by 30 kobo due to ease in demand pressures. Unspecified inflows from some oil companies contributed to the appreciation of the naira. The naira had depreciated yesterday by 48 kobo.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) turned negative as market capitalisation of equities depreciated by 0.21% to close at ₦9.09 trillion, from ₦9.11 trillion.

The NSE All-Share Index also depreciated by 0.21% to close at 28,441.39 basis points as against yesterday’s record of 28,501.21; putting year-to-date returns at 1.29%.

TRANSNATIONAL CORPORATION topped the volume chart today with 37.02 million units of shares valued at ₦37.86 million, while FIRST CITY MONUMENT BANK followed, exchanging 32.78 million worth ₦142.13 million.

Market breadth remained positive today with 31 gainers against 15 losers. FCMB, AIICO, and SKYEBANK topped the gainers’ chart, gaining 9.76%, 6.45%, and 5.71% respectively, while DIAMONDBNK, JOHNHOLT and CUTIX led market losers with respective losses of 5.56%, 4.95%, and 4.58%.