Daily financial market update 2019 DEC 10

DAILY FINANCIAL MARKET UPDATE
Tuesday December 10th, 2019
Equities Market
The Nigerian Equity Bourse Closed in the negative territory, as NSE ASI and Market capitalization both reduced by 1.11% to 26,384.21 Index Points and N12.734 Billion respectively. Year-to-Date ASI is at a Negative of 16.06%.
Value of trade and Volume of trade increased by 0.10% and 1.87% to N 3.551Billion and 196.292 Million volume of trade while No of trades declined by 12.27% to 3,153 No of trades
ROYALEX topped the gainers’ table percentage price change by 7.41%, while DAARCOMM led the losers’ chart with percentage price change of -10.00%
Market breadth was Negative with Eight (8) gainers and Twenty-three (23) price losers.
Foreign News
Benchmark Yield at Zero May Mark End of Japan Bond Futures Slide
Benchmark 10 year yields is one of the main drivers of Japan bond futures. The 10-year yield has risen about 8 basis points so far which turned 0 from being negative since March 2019 while Japanese bond futures have fallen to the lowest since one year and are down over 2% from highest in late September, as foreign investors reduce their holdings. According to Nomura’s Nakashima Futures selling may continue as long as Japanese bonds are in a downtrend implying cash bonds may lead to a stop in selling futures.
bloomberg
Foreign Exchange Market
The NGN/USD exchange depreciated to N363.56/$1 at the I & E FX Window, while CBN official rate remained stable to N306.9/$1 and the parallel market rate remained stable at N360.00/$1 respectively.
Source: FCSL Research
A publication by FCSL RESEARCH
Tel: +234- 01-4615181-2, Email: research@fcslgroup.com
NSE INDEXES
%
Index 9-Dec-19 10-Dec-19 CHANGE
NSE BANKING 349.99 346.78 -0.92
NSE
INDUSTRIAL 1,057.12 1051.21 -0.56
NSE OIL/GAS 233.90 233.90 0.00
NSE
CONSUMER
GOODS 550.28 539.34 -1.99
NSE
INSURANCE 120.65 120.24 -0.34
Source: NSE, FCSL Research
NIBOR RATES-AS AT 9th-Dec- 2019
Tenor %
1 M 12.55
3 M 12.43
6 M 12.67
NIGERIAN TREASURY BILLS- PRIMARY MARKET
Tenor Yield (%)
91-Day 6.50
182-Day 7.23
364-Day 8.37
FGN BONDS-PRIMARY MARKET
Tenor Rate (%)
5 – Year 14.05
10– Year 14.23
30 – Year 14.6
Source: DMO, FCSL Research
MACRO-ECONOMIC INDICATORS As at Dec-10th -2019
Monetary Policy Rate (MPR) 13.50%
Inflation Rate – Oct 2019 11.61%
2019-Q3 GDP growth Rate 2.28%
Foreign Reserve-6-Dec- 2019 $39.58Billion
Exchange Rate ($/N)
Interbank (Official) 306.9
I&E FX Window 363.56
Parallel 360.00
Source: CBN, FMDQ, FCSL Research
Disclaimer:This report is prepared by the Research Unit of FCSL Asset Management Company Ltd for information purposes and private use. Whilst reasonable care
was taken in its production, FCSL Asset Management Limited does not guarantee the absolute correctness of its contents nor does the company accept liability for any losses incurred from relying on its contents. For additional information, please contact FCSL Asset Management Co. Ltd. @ 15, Ribadu Road, Ikoyi, Lagos.