The equity market closed higher on Wednesday, November, 8 , as The Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 0.34% to close at 37,138.97 points compared with
the appreciation of 0.22% recorded Tuesday.
Compared to Tuesday’s market capitalization of N12.81 trn, the market close by N12.85trn.
The appreciation recorded in the share prices of FBN Holdings,
International Breweries, GT Bank, UBA, and Dangote Cement was
mainly responsible for the gain recorded in the Index
Year-to-date, the Index appreciated by 38.19%
The total value of stocks traded on the floor was
N1.80bn, down by 37.79% from N2.91bn recorded yesterday.
The total volume of stocks traded was 193.47mn in 3,904 deals
The three most actively traded stocks were: Diamond Bank
(36.28mn), FBN Holding (35.18mn) and Fidelity Bank (19.45mn)
The most actively traded sectors were: Financial Services
(159.06mn), Consumer Goods (14.13mn), and Conglomerates
The 30-Day and 90-Day NIBOR decreased to 19.94% and 21.21%
respectively, while the 180-Day NIBOR increased to 23.04%
The discount rates on the Nigerian Treasury Bills (NTBs)
depreciated significantly today by an average of about 50 basis
points in the 2-way-quote market.
Market activity was very high
and trading was across all bills on the curve
Prices dipped across all the maturities traded today in the 2-way
quote Bond Market, as the market reacted to Moody’s downgrade
of Nigeria’s sovereign issuer rating from B1 to B2. The high yields
seen following the sell-off generated interest from the PFAs
although prices ultimately closed lower than opening levels.
Activity at the interbank foreign exchange market remained low,
with quotes ranging between N305.45/US$ and N306.45/US$
The foreign exchange rate at the interbank market opened at
N305.45/305.95 and closed at N305.95/306.45, with a high of
N305.95/306.45 and a low of N305.45/305.95 to the US$.