Markets

Daily Market Update –April 29, 2013

The Money Market
Despite the OMO auction today, interest rates remained stable at previous closing rates as the market is still liquid. Consequently, the secured OBB and overnight funds traded at 10.25% and 10.50% respectively.

In the absence of aggressive monetary tightening activities by the CBN, funds are expected to trade at current levels through the week as there will be a credit of ₦195 billion T-bills maturities towards the end of the week.

Treasury Bills Market

Daily Market Update –April 26, 2013

The Money Market
The market remained liquid as a result of the ₦215 billion net cash credit. Regardless of the ₦102 billion mopped up by the CBN via the special OMO auction, rates remained stable at previous closing levels. Consequently, the secured OBB and Overnight Funds traded at 10.25% and 10.50% respectively.

Treasury Bills Market

Daily Market Update –April 25, 2013


The Stock Market
Trading activities at the Nigerian Stock Exchange (NSE) turned bearish today, as market capitalisation of equities depreciated by 0.46% to close at ₦10.64 trillion, from ₦10.69 trillion.

The NSE All-Share Index depreciated by 0.48% to close at 33,271.34 basis points as against yesterday’s figures of 33,432.68; putting year-to-date returns at 18.49%.

Daily Market Update –April 24, 2013

The Money Market
Interest rates remained stable as there were no major withdrawals from or credits to the system. Consequently, the secured OBB and overnight funds traded at 10.255 and 10.50% respectively. Interest rates are expected to close the week at these levels, as the market anticipates the T-bills net cash credit of ₦215 billion tomorrow.

Treasury Bills Market

Stock Exchange Launches Alternative Securities Market (ASeM)

The Nigerian Stock Exchange (NSE) today launched an Alternative Securities Market (ASeM) for Emerging Companies with high potential for growth in Nigeria.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema, said that the ASeM is a specialised board on the Nigerian bourse where small to mid-sized companies can access the capital market under less stringent rules and requirements to raise long term, low cost capital.

Daily Market Update –April 23, 2013

The Money Market
Regardless of the OMO auction settlements totalling ₦101 billion, rates remained stable at previous closing levels. This was as a result of a ₦135 billion credit of Government personnel funds into the system. In lieu to this, secured OBB and overnight funds traded at 10.5% and 10.75% respectively. Interest rates are expected to remain at these levels but fall further as we anticipate the T-bills net cash credit of ₦215 billion.

Treasury Bills Market

Daily Market Update –April 19, 2013

(Photo L-R: Managing Director, Foods Division, Flour Mills of Nigeria, Edward W. J. Jackson; Executive Director, Market Operations Technology of the NSE, Ade Bajomo; Group Managing Director/CEO, Flour Mills of Nigeria, Paul Miyonmide Gbededo; and Executive Director, NSE’s Business Development, Haruna Jalo-Waziri at the introduction of the newly appointed MD/CEO of Flour Mills of Nigeria to the stockbroking  community and Bell Ringing Ceremony at the Exchange.)

Daily Market Update –April 18, 2013

The Money Market
OMO bills maturity of ₦216 billion ensured that the money market remained liquid despite the OMO auction carried out today. Interest rates traded flat at 10.25% for the secured OBB and overnight funds. An increase in rates is expected tomorrow as PDMM’s and authorised dealers fund for FGN Bond auction settlement of ₦104.8 billion and FX purchases of ₦41 billion respectively.

Treasury Bills Market

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