Daily Market Update –November 30, 2012

The Money Market
The Money Market remained liquid despite liquidity tightening activities (OMO) by the Central Bank to mop of excess funds. Rates on the secured OBB and the overnight funds closed at 11.50% and 11.75% respectively. Rates are expected to remain stable next week due to stability in market liquidity.

Treasury Bills Market
The Treasury Bills Market was moderately active today with intraday trading activities witnessed across board, dropping yields by an average of 0.15% across all tenured maturities.

The Bonds Market
The Bond Market was intensely bullish today, with yield dropping by an average of 0.06%. Demand was high on the May 2018 and the Oct 2019, both of which saw about 15 kobo and 45 kobo price appreciation respectively. With the renewed buying frenzy, the market is expected to remain at this level.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.24 to a dollar with the naira depreciating by 4 kobo due to demand pressures. A $42 million inflow from an oil company prevented further depreciation of the naira. The naira had appreciated yesterday by 13 kobo.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) remained bullish today, as market capitalisation of equities appreciated by 0.34% to close at ₦8.47 trillion, from ₦8.44 trillion.

The NSE All-Share Index also appreciated by 0.34% to close at 26,494.44 basis points as against yesterday’s record of 26,404.82; putting year-to-date returns at 27.80%.

ECOBANK TRANSNATIONAL topped the volume chart today with 38.27 million units of shares valued at ₦420.96 million, while FBN HOLDINGS followed, exchanging 18.31 million worth ₦270.39 million.

Market breadth was positive today with 26 gainers against 18 losers. MANSARD, UNILEVER and BOCGAS topped the gainers’ chart, gaining 5.00%, 5.00%, and 4.92% respectively, while ACADEMY, AIICO and NNFM led market losers with respective losses of 9.60%, 5.26%, and 4.95%.


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