Daily Market Update –February 14, 2013

The Money Market
Market liquidity improved significantly due to the credit of T-bills maturities totalling ₦195billion. As a result, rates fell sharply by an average of 3.00%. Consequently, the secured OBB and overnight funds traded at 11.50% and 11.75% respectively. Market liquidity is expected to fall by the close of the week due to the Bond Auction and WDAS settlements.

Treasury Bills Market
The Treasury Bills Market was relatively active today as it witnessed a downward trend on most maturities. Emphasis was still centred on the short and medium tenured bills which dropped in yields by an average of 0.15%.

The Bonds Market
Prices in the bond market initially dropped across all trading bonds; however, later in the trading day the trend reversed. This led to an appreciation in prices of an average of 20 kobo on the 9 series bonds, with the most increment on the June 2019 which went up by 35 kobo from its opening levels. Other maturities dropped in price by an average of 10 kobo.

The Foreign Exchange Market
The Foreign Exchange Market opened today at ₦157.30 to a dollar with the naira appreciating further by 3 kobo due to ease in demand pressures. The naira had appreciated by 3 kobo yesterday.

The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) remained bearish today, as market capitalisation of equities depreciated further by 0.04% to close at ₦10.66 trillion, from ₦10.67 trillion.

The NSE All-Share Index also depreciated by 0.04% to close at 33,342.02 basis points as against yesterday’s figures of 33,355.54; putting year-to-date returns at 18.74%.

TRANSNATIONAL CORPORATION topped the volume chart today with 72.36 million units of shares valued at ₦136.18 million, while MANSARD INSURANCE followed, exchanging 51.32 million worth ₦138.39 million.

Market breadth turned negative today with 20 gainers against 53 losers. CUSTODYINS, DNMEYER and ROYALEX topped the gainers’ chart, gaining 9.77%, 9.40%, and 8.13% respectively, while PRESTIGE, FIDSON and UNILEVER led market losers with respective losses of 9.82%, 9.74% and 9.62%.