Market Insight 04 August 2016  
  NSE ASI Closes in the Green on Consumer Goods, Oil/Gas Stocks NSE Market Summary The overall performance measures, NSE ASI and market capitalisation, revved by 22.9bps each, driven in part by consumer goods, oil & gas, and industrial stocks which were highly sought after. At the close of business fourteen stocks appreciated while seventeen stocks declined while transactions on shares of Guaranty Trust Bank accounted for over one fifth of total Naira votes. Gainers & Losers Shares of Total Oil Nigeria, Mobil Oil Nigeria, Nigerian Breweries and Guinness Nigeria gained N16.60, N8.10, N2.45 and N1.01 to close at N222.60, N170.10, N135.00 and N95.00 respectively. Conversely, shares of International Breweries, Flour Mill of Nigeria and Forte Oil depreciated by N0.96, N0.43 and N0.40 to close at N18.38, N20.00 and N166.82 respectively. Market News Nestle Nigeria Plc (6 Months, June 2016) The foods and beverage giants recorded a year-on-year increase in revenue by 22.02% to N80.442 billion. however, they recorded a decrease in profit after tax by 93.97% to N535.81 million following a 361% spike in finance costs to N14.89 billion which was mainly due to reevaluation of loans following the recent Naira devaluation. Interbank Money Market Nigerian Interbank Treasury Bills True Yields (NITTY) moved in mixed directions across the maturities – yield on 1 month fell to 13.24%; however, the yield on 6 months maturity rose to 18.86%. Interbank rates, NIBOR, mostly fell across the maturities amid liquidity ease – NIBOR for 1 month, 3 months and 6 months tenor buckets fell to 17.67%, 19.17% and 21.67% respectively. However, the overnight funds rate rose to 20.5%. FGN Bond Market – OTC NG & Eurobonds Bond prices moved in mixed directions across the maturities – 20-year, 10.00% FGN JUL 2030 bond fell by N0.24 (yield rose to 15.37%). However, 7-year, 16.00% FGN JUN 2019 debt rose by N0.03 (yield fell to 15.30%). Elsewhere, Nigeria’s eurobond prices increased across all maturities on renewed bargain hunting – 10-year, 6.75% JAN 28, 2021 bond rose by USD0.53 (yield fell to 6.53%).  
     
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