Market Report for Wednesday 11, 2013 Trading on the bourse closed on the upside yesterday as the All Share Index climbed back to the 36,260 points. Highly capitalized stocks such as NB, GUARANTY and ZENITHBANK boosted the gain, contributing a total of 156 points altogether, In all 22 stocks appreciated. The volume of trading however dipped by 4.1% as investors exchanged 188.46 million shares valued at N2.543 billion in 5061 deals. The Naira strengthened against the Dollar gaining N1.20 to close at N162.50/US$ from previous N163.70/US$. Relative to the Pound Sterling and Euro, the local currency also appreciated to close N257.01/£ and N216.34/€. The NIBOR sustained its rise soaring higher by 671bps on average to settle at 22.56% on average across all tenors from 15.88% recorded last session. Yields in the interbank bond market contracted by 2bps as the average yield across all maturity spectrums closed at 13.45%.
Posted on: Thu, 12 Sep 2013 05:58:48 +0000
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