Markets

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

Daily Market Update –January 29, 2013

The Money Market
Market liquidity declined today as a result of the ₦144 billion OMO auction yesterday. This drove rates up 1.50% from previous levels. Consequently, the secured OBB and the overnight fund traded around 13.00% and 13.25% respectively.

Treasury Bills Market
The Treasury Bills Market opened on a bearish note today with activities centred on the short and medium tenured bills which increased by an average of 0.20%. The long tenured bills however increased slightly by an average of 0.05%.

Daily Market Update –January 25, 2013

The Money Market
Bonds maturity totalling ₦157 billion boosted market liquidity, as a result rates dropped about 0.50% from Wednesday’s closing levels. Consequently, rates on the secured OBB and the overnight funds closed at 10.50% and 10.75% respectively.

Treasury Bills Market
The Treasury Bills Market was fairly active today with yields trending downwards to reflect the bullish stop rates at the Primary Market Auction. The market therefore witnessed an average drop of 0.30% across most maturities.

Daily Market Update –January 23, 2013

The Money Market
Market liquidity dropped today as banks funded for WDAS. Hence, the secured OBB and the overnight funds traded at 11.50% and 12.00%. Market liquidity is expected to worsen and rates to inch up as banks fund for Treasury bills and bonds settlement on Friday

Treasury Bills Market
The Treasury Bills Market was fairly active today because of the Primary Market Auction, however the market witnessed a bit of demand which dropped yields slightly by 0.10% across most maturities.

Daily Market Update –January 22, 2013

The Money Market
In line with market expectations, the Central Bank of Nigeria (CBN) carried out an OMO auction and successfully mopped up ₦178 billion from the system, resulting in an increase in rates by about 0.50%. Consequently, the secured OBB and the overnight funds traded at 10.50% and 11.00% respectively.

Treasury Bills Market

Daily Market Update –January 21, 2013

The Money Market
The market was still very liquid as a result of the Federal Accounts Allocation Committee (FAAC) funds disbursed last week. Consequently, OBB and Overnight funds remained stable at 10.25% and 10.50% respectively contrary to market expectations as the CBN did not carry out any OMO auction today to mop up the excess liquidity.

Treasury Bills Market

Daily Market Update –January 18, 2013

The Money Market
Market liquidity rose sharply due to the credit of statutory funds (FAAC) totalling ₦283 billion into the system. With the excess liquidity in the system, the CBN carried out Open Market Operations (OMO) and successfully mopped out ₦190 billion. Regardless of the CBN tightening measure, interest rates fell significantly by an average of 2.00%. Consequently, the secured OBB and overnight funds traded at 10.25% and 10.50% respectively.

Treasury Bills Market

Daily Market Update –January 17, 2013

The Money Market
At the Money Market today, interest rates fell by 1.50% due to the ₦147 billion Treasury bills maturity credited into the system. Consequently, the secured OBB and the overnight funds traded at 12.25% and 12.50% respectively. Rates are expected to decline further tomorrow as statutory fund (FAAC) has been credited into the system. However, the CBN is expected to mop up the excess liquidity in the system via OMO tomorrow.

Treasury Bills Market

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