- The Nigerian equities market, resuscitated from previous day lost position, as both NSE ASI and market capitalization appreciated significantly by 2.04% respectively, as they both closed at 33,114.44 points and N12,089tr respectively, at today’s trading activity. Year-to-Date ASI is at a negative of 13.46%.
- Volume and No of trades both increased by 17.00% and 13.09% to N222.958M and 3,327, while value of trade decreased by 0.70% to 3,283.57B respectively.
- NESTLE topped the gainers’ table with percentage price change of 6.79%, while PRESCO led the losers’ chart with percentage change of 5.75%
- Market breadth was POSTIVE with Twenty-six (26) gainers against Twenty (20) price losers.
Money and Fixed Income Market
- The OBB and OVN rate closed on a high at 18.00% and 19.42%, as system liquidity decline significantly at about N122bn positive.
- The Bond market recorded new intense buy pressure at yesterday market, while yield for the market closed relatively plane, however medium term bond witnessed slight sell.
- The T-bills witnessed a bearish trade at yesterday market activity, as the market experience significant selloff on the shorter end of the curve, fueled by decline in system liquidity.
EU, China, Russia Defy Trump with Plan to Keep Trading With Iran
The European Union, China and Russia backed a mechanism to allow “legitimate” business to continue with Iran, a plan aimed at sidestepping American sanctions and allowing international trade to continue unimpeded. This implies that EU member states will set up a legal entity to facilitate legitimate financial transactions with Iran, and this will allow European companies to continue trading with Iran.
Foreign Exchange Market
- The NGN/USD exchange rate appreciated to N363.72 at the I & E FX Window. While parallel market remained stable at N360/$, also CBN Official rate was stable at N306.35. Read more :