Equities Market

  • The Nigerian equities market declined for the second time this week, as both NSE ASI and market capitalization decreased by 0.61% respectively, as they both closed at 32,763.35 points and N11,961.15 tr respectively, at today’s trading activity. Year-to-Date ASI is at a negative of 14.38%.
  • Volume of trades and No of trades all decreased by 10.40% and 5.27% to N154.290M and 2,715, however the Value traded increased by 32.99% to N2,729.15BN respectively.
  • LINKASSURE topped the gainers’ table with percentage price change of 9.38%, while PZ led the losers’ chart with percentage change of 4.81%
  • Market breadth was NEGATIVE with Thirteen (13) gainers against Twenty-one (21) price losers.

Money and Fixed Income Market

  • The OBB and OVN rate closed at 5.00% and 6.25%, as system liquidity was enhanced by OMOT-bills maturity.
  • The Bond Market witnessed an impressive demand drive, given the cherry pick on long tenured bond, as such yield on long term bond experience some a decline of about 12bps, while yield on Midterm bond decline to about 3bps.
  • The T-bills market closed on an inactive note, as yield inched higher by about 20bps, as market anticipate possible OMO intervention.

Foreign News
Oil rises as investors fret over Iranian supply gaps:
Oil edged higher on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in five weeks. U.S. President Donald Trump this week demanded that the Organization of the Petroleum Exporting Countries raise production to prevent further price rises ahead of midterm elections in November for U.S. Congress members. Analysts said that OPEC and Russia appear unlikely to immediately boost production as Trump has demanded. U.S Energy Secretary Rick Perry has ruled out using U.S. strategic crude reserves to lower oil prices.
Foreign Exchange Market

  • The NGN/USD exchange rate appreciated marginally to N363.74 at the I & E FX Window. While parallel market remained stable at N360/$, also CBN Official rate was stable at N306.35. Read more: