Nigerian equities market appreciates by 1.58% as Dangote Cement, Ecobank lead gain

The Bulls sustained their strong hold on the equity market today as The Nigerian Stock Exchange All Share Index (NSE ASI) appreciated further by 1.58% to close at 39,042.11 points

The appreciation recorded in the share prices of Dangote Cement, ETI, Dangote Sugar, Nigeria Breweries, and GT Bank were mainly responsible for the gain recorded in the Index

Similarly, the Market Capitalization appreciated further by 1.58% to close at N14.14trn, compared with the appreciation of 1.53% recorded yesterday

The three most actively traded stocks were WAPIC (403.50mn), GT Bank (106.08mn), and Diamond Bank (33.73mn).

Money and Fixed Income Securities Market:

 The 30-Day NIBOR decreased to 12.95%. The 180-Day NIBOR increased to 15.19%. The 90-Day NIBOR closed unchanged at 13.83%

NTBs rates dropped marginally by an average of 2bps as the demand for bills persisted

There was some sell-off on the long end of the yield curve in the bond market (July 2034 & March 2036) as prices dropped by 50 kobo from the day’s opening levels.

Foreign Exchange Market:

Activity at the interbank foreign exchange market remained low, with quotes ranging between N305.45/US$ and N306.45US$

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 305.45/305.95 to the US$.