Daily Market Update –April 30, 2013

The Money Market
Funds traded at previous closing levels for most part of trading hours today. However, after the OMO Auction settlement of ₦132 billion (which was above the amount of T-bills on offer), rates rose steeply by an average of 1.00%. As a result, the secured OBB and overnight funds traded at 10.25% and 10.5% but eventually closed at 11.25% and 11.50% respectively.

Treasury Bills Market
Activity in the T-bills market was minimal due to the ₦100 billion OMO auction. However the market saw some buying pressure on the Aug-2013 maturities. Consequently, yields dropped by an average of 0.20%.

The Bonds Market
The bond market was active with trading activities seen across board. An average price appreciation of 75 kobo occurred on Jan 2022, April 2017 and June 2019 maturities while May 2018 maturity dropped by approximately 80 kobo from opening levels.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.80 to a dollar with the naira depreciating by 10 kobo due to demand pressures. Unspecified inflows from some oil companies prevented further depreciation of the naira.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) turned bullish today, as market capitalisation of equities appreciated by 1.24% to close at ₦10.69 trillion, from ₦10.56 trillion.

The NSE All-Share Index also appreciated by 1.24% to close at 33,440.57 basis points as against yesterday’s figures of 33,030.83; putting year-to-date returns at 19.10%.

UNITY BANK topped the volume chart today with 107.10 million units of shares valued at ₦69.15 million, while ACCESS BANK followed, exchanging 70.81 million worth ₦675.11 million.

Market breadth remained positive today with 24 gainers against 19 losers. CAP, IKEJAHOTEL and CCNN topped the gainers’ chart, gaining 10.00%, 9.52% and 7.50% respectively, while COSTAIN, WEMABANK and FBNH led market losers with respective losses of 10.00%, 9.92% and 6.42%.