Economy

CBN Sells Fresh T-Bills Worth N96bn, Raises Stop Rates

Published

7 years ago

04/04/2019

Dipo Olowookere

By Dipo Olowookere

Fresh treasury bills valued at N95.7 billion were sold to investors on Wednesday by the Central Bank of Nigeria (CBN).

The exercise, conducted via primary market auction, was largely successful as it was oversubscribed to by market players.

Of the N95.68 billion worth of the debt instrument auctioned at the exercise, offers worth N197.05 billion were received by the apex bank, which did the auctioning on behalf of the Nigerian government.

The bank auctioned N10 billion worth of the 91-day bill, but offers worth N20.09 billion were received, while N10 billion was eventually allotted.

The apex bank had also auctioned N17.60 billion worth of the 182-day bill, but received subscriptions worth N22.97 billion, with only N17.60 billion sold.

Of the N68.08 billion worth of the 364-day bill auctioned, the central bank received offers worth N153.99 billion, with N68.08 billion allotted.

Business Post reports that while the CBN slightly reduced the stop rate for the 91-day bill to 10.29 percent from 10.30 percent, rates for the two other maturities were increased.

The 182-day bill rate was raised from 12.20 percent to 12.60 percent, while the 364-day bill rate was increased from 12.35 percent to 12.85 percent.

It was observed that the focus on the primary market auction left the secondary market slightly bearish as a result of tight system liquidity levels.

Consequently, the average treasury bills yield advanced marginally by 0.003 percent at the end of the day’s trading to 12.86 percent.

Apart from the 3-month, 9-month and 12-month bills which went up by 0.06 percent, 0.11 percent and 0.06 percent respectively, the one-month and 6-month papers depreciated by 0.20 percent and 0.04 percent respectively.

Meanwhile, the average money market rate appreciated by 0.11 percent on Wednesday to finish at 17.11 percent. This was as a result of the 0.14 percent and 0.07 percent growth recorded by the Open Buy Back (OBB) and Overnight (OVN) rates respectively.

While the OBB rate closed at 16.71 percent from 16.57 percent, the OVN rate settle at 17.50 percent from 17.43 percent in the previous session.

Barring any significant sale of OMO bills on Thursday by the CBN, rates are anticipated to moderate slightly on the back of the expected inflows today via OMO maturities.

Economy

NGX Records Turnover of 6.617 billion Equities worth N113.2bn in One Week

Published

11 minutes ago

08/12/2025

Dipo Olowookere

By Dipo Olowookere

Last week, investors bought and sold 6.617 billion shares worth N113.224 billion in 109,590 deals compared with the preceding week’s 4.140 billion shares valued at N115.889 billion traded in 102,351 deals.

It was observed that ICT stocks led the activity chart with 3.500 billion units worth N17.759 billion traded in 11,184 deals, contributing 52.89 per cent and 15.68 per cent to the total trading volume and value, respectively.

Financial equities transacted 2.625 billion units for N50.188 billion in 42,574 deals, and services shares recorded 104.524 million units valued at N1.166 billion in 7,255 deals.

eTranzact, Cornerstone Insurance, and Access Holdings accounted for 4.871 billion shares worth N27.422 billion in 6,438 deals, contributing 73.60 per cent and 24.22 per cent to the total trading volume and value, respectively.

In the week, 55 equities appreciated versus 38 equities in the previous week, 29 equities depreciated versus 36 equities a week earlier, and 63 equities closed flat versus 73 equities in the preceding week.

NCR Nigeria was the best-performing stock after it gained 33.03 per cent to sell for N72.70, UAC Nigeria appreciated by 22.69 per cent to N96.80, Guinness Nigeria expanded by 18.56 per cent to N198.00, Dangote Cement rose by 15.02 per cent to N614.90, and Nigerian Breweries grew by 12.36 per cent to N75.00.

On the flip side, RT Briscoe was the worst-performing stock after it lost 12.79 per cent to N3.00, Legend Internet slipped by 10.71 per cent to N5.00, Union Dicon shed 10.00 per cent to N6.30, ABC Transport declined by 9.88 per cent to N3.10, and Cornerstone Insurance went down by 9.33 per cent to N5.50.

According to data from the bourse, the All-Share Index (ASI) increased by 2.45 per cent to 147,040.08 points and the market capitalisation added 2.67 per cent to settle at N93.722 trillion.

In the same vein, all other indices finished higher apart from the energy and commodity indices, which depreciated by 0.57 per cent and 0.30 per cent, respectively.

Economy

Customs Street Chalks up 1.08% on Renewed Buying Pressure

Published

2 days ago

06/12/2025

Dipo Olowookere

By Dipo Olowookere

A 1.08 per cent growth was further printed by the Nigerian Exchange (NGX) Limited on Friday on improved appetite for Nigerian stocks.

Data showed that the insurance sector lost 0.61 per cent yesterday due to profit-taking as the energy space gave up 0.08 per cent, while the commodity counter closed flat.

However, the industrial goods landscape appreciated by 2.06 per cent, the banking index improved by 1.31 per cent, and the consumer goods sector expanded by 0.83 per cent.

At the close of business on Customs Street, the All-Share Index (ASI) increased by 1,563.92 points to 147,040.07 points from 145,476.15 points and the market capitalisation went up by N996 billion to N93.722 trillion from N92.726 trillion.

UAC Nigeria led the advancers’ log yesterday after it grew by 10.00 per cent to N96.80, Transcorp Hotels jumped by 9.71 per cent to N172.80, Royal Exchange appreciated by 8.89 per cent to N1.96, Ikeja Hotel soared by 8.74 per cent to N31.10, and Veritas Kapital leapt by 8.07 per cent to N1.74.

On the flip side, Union Dicon declined by 10.00 per cent to N6.30, ABC Transport slipped by 9.88 per cent to N3.10, AXA Mansard depreciated by 7.19 per cent to N12.90, FTN Cocoa lost 4.62 per cent to trade at N4.75, and Guinea Insurance dropped 3.36 per cent to finish at N1.15.

A total of 38 stocks ended on the gainers’ table and 17 stocks finished on the losers’ table, representing a positive market breadth index and strong investor sentiment.

Traders transacted 361.6 million equities for N14.8 billion in 21,051 deals yesterday versus the 1.9 billion equities worth N19.2 billion traded in 23,369 deals a day earlier, showing a decline in the trading volume, value, and number of deals by 80.97 per cent, 22.92 per cent, and 14.20 per cent, respectively.

The busiest stock for the session was Zenith Bank with 59.5 million units worth N3.6 billion, Access Holdings traded 46.1 million units valued at N973.0 million, Fidelity Bank exchanged 29.4 million units for N560.4 million, FCMB transacted 27.9 million units worth N293.9 million, and Tantalizers sold 13.0 million units valued at N29.8 million.

Economy

Nipco, 11 Plc Crash OTC Securities Exchange by 4.76%

Published

2 days ago

06/12/2025

Adedapo Adesanya

By Adedapo Adesanya

Energy stocks influenced the 4.76 per cent loss recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, December 5.

The culprits were the duo of 11 Plc and Nipco Plc,with the former shedding N32.17 to end at N291.83 per share compared with the previous day’s N324.00 per share, and the latter down by N21.00 to sell at N195.00 per unit versus the previous session’s N216.00 per unit.

Consequently, the NASD Unlisted Security Index (NSI) slumped by 170.16 points to 3,401.37 points from 3,571.53 points and the market capitalisation lost N101.81 billion to close at N2.035 billion from the N2.136 trillion quoted in the preceding session.

The OTC securities exchange suffered the decline yesterday despite the share prices of three companies closing green.

Central Securities Clearing System (CSCS) Plc was up by N1.80 to close at N39.80 per share compared with Thursday’s price of N38.00 per share, Air Liquide Plc appreciated by N1.09 to N11.99 per unit from N10.90 per unit, and FrieslandCampina Wamco Nigeria Plc grew by 78 Kobo to N56.57 per share from N55.79 per share.

During the session, the volume of transactions rose by 6,885.3 per cent to 18.2 million units from 4.3 million units, the value of transactions ballooned by 10,301.7 per cent to N389.7 million from N347.2 million, but the number of deals declined by 29.7 per cent to 26 deals from 37 deals.

Infrastructure Credit Guarantee Company (InfraCredit) Plc ended the day as the most traded stock by value on a year-to-date basis with 5.8 billion units worth N16.4 billion, followed by Okitipupa Plc with 170.4 million units valued at N8.0 billion, and Air Liquide Plc with 507.5 million units worth N4.2 billion.

InfraCredit Plc also finished the day as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units worth N524.9 million.