Markets

Daily Market Update –February 6, 2013

The Money Market
Interest rates dropped by an average of 0.50% due to the level of liquidity in the money market. Excess crude funds estimated at ₦75 billion also hit the system thereby dropping rates further to sub 11%. The market is expected to remain liquid, however, the CBN may likely mop up excess funds from the system via OMO.

Treasury Bills Market

Daily Market Update –February 4, 2013

The Money Market
Liquidity in the Money Market remained stable causing rates to remain unchanged. As a result, the secured OBB and the overnight funds traded at previous close; 11.75% and 12.00% respectively. The market expects NNPC remittances to commence this week, which would cause rates to trend northwards.

Treasury Bills Market
The Treasury Bills Market was fairly active today with intraday activities witnessed mainly on the medium tenured bills. Yields were stable across board and closed around opening levels.

Stock Market Weekly Summary: February 1, 2013

A turnover of 2.813 billion shares worth ₦22.188 billion in 33,123 deals were transacted last week on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.612 billion shares valued at ₦19.152 billion that exchanged hands the previous week in 27,186 deals.

The Financial Services sector was the most active during the week, contributing 79.64% to the total equity turnover volume with 2.240 billion shares valued at ₦14.761 billion.

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

Daily Market Update –January 31, 2013

The Money Market
As expected, the CBN floated a ₦200 billion OMO to mop up the ₦330 billion T-bills cash credit into the system today. Although the ₦184 billion was successfully mopped up, interest rates closed lower than previous levels with the secured OBB and the overnight trading at 10.50% and 11.00% respectively. It is expected that the CBN will continue its OMO sessions tomorrow as the market is still liquid.

Treasury Bills Market

Stock Exchange Increases Market Makers By Four

(L-R: Bolaji Balogun, CEO of Chapel Hill Limited; Adeolu Bajomo, NSE’s ED of Market Operations Technology; and Jingdong Hua, Vice President of International Finance Corporation (IFC) at the Bell Ringing Ceremony in commemoration of  IFC Bond Issuance at the Exchange recently.)

The Nigerian Stock Exchange has announced the addition of four new stocks to the market making programme. The new additions are:  Flour Mill Plc; Unilever Plc; Royal Exchange Plc and Wema Bank Plc. The new additions bring the number of stocks that have been rolled out by the initiative to 43.

Daily Market Update –January 30, 2013

The Money Market
With the Money Market still awash with liquidity, the Central Bank of Nigeria floated a ₦140 billion OMO auction and successfully mopped up ₦188 billion from the system. Consequently, the secured OBB and the overnight funds closed at 13.00% and 13.25% respectively. Interest rates are expected to crash tomorrow as T-bills maturity of ₦330 billion is credited to the system.

Treasury Bills Market

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