Daily Market Update –April 04, 2013

The Money Market
As expected interest rates dropped to 10% levels due to the credit of Treasury bills maturity of about ₦250 billion into the system. Irrespective of the OMO session carried, the secured OBB and overnight funds traded at 10.25% and 10.50% respectively. Rates are expected to close the week at these levels in the absence of any major withdrawal from the system.

Treasury Bills Market

Daily Market Update –April 03, 2013

The Money Market
CBN successfully mopped up ₦419 billion from the system via the OMO session that was carried out today. In lieu to this, interest rates went up by an average of 1.00%, as market liquidity fell sharply. Hence, the secured OBB and overnight funds traded at 11.00% and 11.25% respectively.

Interest rates are expected to crash tomorrow, back to their 10% levels, upon the credit of T-bill maturities totalling ₦250 billion.

Treasury Bills Market

Daily Market Update –April 02, 2013

The Money Market
Interest rates remained relatively stable today as the market opened on a very liquid note due to the ₦321 billion Treasury bills net cash credit into the system on Thursday. Consequently, the secured OBB and the overnight funds traded at previous close; 10.15% and 10.25% respectively.

Rates are expected to remain at these levels throughout the week due to Treasury bills maturity of approximately ₦250 billion on Thursday.

Treasury Bills Market

NSE to Launch Issuers’ Portal

The Nigerian Stock Exchange (NSE) has concluded arrangements to introduce the first ever Issuers’ Portal in the Nigerian Capital Market known as X-Issuer. The new portal, which will be formally launched on Tuesday, March 26, 2013 at the MUSON Centre in Lagos, is one of a number of new regulatory initiatives of the NSE that will allow online information submission for enhanced interaction between the Exchange and listed companies.

The Capital Market: 2012 Performance Review

The Nigerian equities market (Nigerian Stock Exchange, NSE) started the year on a bearish note with the NSE All-Share Index (ASI) depreciating by 32.63 points or 0.15% and the market capitalisation dropping to ₦6.533 trillion. At the end of the year, the market recorded an impressive year-to-date (YTD) performance of 35.4% gain, hitting a 34-month high of 28,078.81 basis points up from 20.730.63 points recorded at the beginning of the year.

Performance of Dividend Paying Stocks on the Exchange

Fundamental approach in business reveals that investors value dividends paid from companies. They view this as income from stocks they invested in, considering the fact that investing in stocks is riskier than saving money in the bank. The nature of the risk involved has made investors to anticipate a higher average return on stocks to compensate for the greater uncertainty and chance of loss.

Stock Market Weekly Summary -March 08, 2013

A turnover of 1.93 billion shares worth ₦20.99 billion in 28,832 deals were transacted last week on the floor of The Exchange in contrast to a total of 2.28 billion shares valued at ₦24.63 billion recorded in the preceding week in 28,170 deals.

The Financial Services sector accounted for 1.51 billion shares valued at ₦13.53 billion traded in 17,688 deals. The Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.07 billion shares worth ₦11.23 billion exchanged in 11,333 deals.