Daily Market Update –February 1, 2013

The Money Market
The market opened on a liquid note today due to the T-bills cash credit of yesterday. Consequently, the Central Bank floated OMO and successfully mopped up ₦74 billion from the system. Due to the OMO and WDAS debits today, interest rates trended upwards with the secured OBB and the overnight funds closing at 11.75% and 12.00% respectively.

Treasury Bills Market
The Treasury Bills Market was quiet today with minimal activities witnessed across board. Despite the CBN OMO auction for settlement today; yields across board remained relatively stable.

The Bonds Market
The Bond Market opened on a bearish note today with prices slightly higher than its previous close. Prices on the May 2018, Jan 2022 and June 2019 appreciated by 10 kobo, 20 kobo and 15 kobo respectively from its opening levels, while the other maturities traded at same levels.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.10 to a dollar with the naira depreciating by 18 kobo due to demand pressures. The naira had appreciated yesterday by 10 kobo.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) remained bullish today, as market capitalisation of equities appreciated further by 1.75% to close at ₦10.37 trillion, from ₦10.19 trillion.

The NSE All-Share Index also appreciated by 1.75% to close at 32,411.86 basis points as against yesterday’s record of 31,853.19; putting year-to-date returns at 15.43%.

PRESTIGE ASSURANCE topped the volume chart today with 37.75 million units of shares valued at ₦24.42 million, while WEMA BANK followed, exchanging 37.18 million worth ₦33.96 million.

Market breadth remained positive today with 42 gainers against 26 losers. AIRSERVICE, AIRSERVICE and PRESTIGE topped the gainers’ chart, gaining 10.00%, 10.00%, and 9.09% respectively, while FLOURMILL, ROYALEX and DANGFLOUR led market losers with respective losses of 10.00%, 8.96% and 5.26%.