The release of the positive Gross Domestic Product (GDP) growth rate in Q3 2017 drove the equity market today. Year on Year the GDP grew by 1.40% in Q3, 2017 higher than the revised growth rate of 0.72% recorded in Q2, 2017.
Consequently The Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 0.24% to close at 36,792.60 points compared with the appreciation of 0.19% recorded last Friday, November,17.
The appreciation recorded in the share prices of FBN Holdings, Nestle, PZ Cussons, UBA, and Zenith Bank was mainly responsible for the gain recorded in the Index
Year-to-date, the index appreciated by 36.90%
Similarly, the Market Capitalization appreciated today by 0.24% to close at N12.81trn, compared with the appreciation of 0.19% recorded last Friday to close at N12.77trn
The total value of stocks traded on the floors of The NSE was N2.45bn, down by 61.13% from N6.31bn recorded yesterday
The total volume of stocks traded was 208.70mn in 2,993 deals
The three most actively traded stocks were: Custodian and Allied Insurance (40.45mn), FBN Holdings (27.45mn) and Fidelity Bank (23.46mn)
The most actively traded sectors were: Financial Services (175.47mn), Consumer Goods (21.42mn), and Conglomerates (5.63mn).
The 30-Day, 90-Day and 180-Day NIBOR decreased to 17.49%, 19.72% and 21.94% respectively
The discount rates on the Nigerian Treasury Bills (NTBs) depreciated today by an average of about 5 basis points across most of the maturities traded in the 2-way-quote market
The Bond market opened on a bullish note across the curve following the release of Q3 GDP figures. Prices increased by an average of N1 on the March 2027 and April 2037 bonds.
Activity at the interbank foreign exchange market remained low, with quotes ranging between N305.40/US$ and N306.40/US$
The foreign exchange rate at the interbank market opened at N305.40/305.90 and closed at N305.90/306.40, with a high of N305.90/306.40 and a low of N305.40/305.90 to the US$.
