Market Insight 05 August 2016  
  Bears Dominate Transactions in the Equities Market; Friday NSE Market Summary The local bourse registered overall bearish activities for the fifth consecutive trading session. At the close of business, there were 22 losers and 18 gainers, resulting in the 1.17% decline of the key market indicators, the NSE ASI and market capitalisation. The bourse has lost 4.25% on a year to date basis. Gainers & Losers Shares of Total Oil Nigeria, Mobil Oil Nigeria, Flour Mill of Nigeria and International Breweries gained N19.42, N8.50, N1.98 and N0.62 to close at N242.02, N178.60, N21.98 and N9.00 respectively. Conversely, shares of Seplat Petroleum Development Company, 7UP Bottling Company and Dangote Cement depreciated by N12.76, N6.15 and N3.00 to close at N242.60, N120.20 and N180.00 respectively. Market News Fortis Microfinance Bank Plc (6 Months, June 2016) The financial services provider recorded a year-on-year increase in revenue by 37.66% to N1.796 billion. In the same vein, they recorded a year-on-year increase in profit after tax by 14.42% to N268 million. Interbank Money Market Nigerian Interbank Treasury Bills True Yields (NITTY) moved in mixed directions across the maturities – yield on 1 month rose to 15.81%; however, the yield on 6 months maturity fell to 19.12%. Interbank rates, NIBOR, mostly fell across the maturities amid liquidity ease – NIBOR for overnight funds, 1 month and 6 months tenor buckets fell to 20.04%, 17.23% and 21.65% respectively. However, the 3 months rate rose to 19.26%. FGN Bond Market – OTC NG & Eurobonds Bond prices mostly increased across the maturities – 20-year, 10.00% FGN JUL 2030 bond rose by N0.34 (yield fell to 15.29%). However, 7-year, 16.00% FGN JUN 2019 debt fell by N0.14 (yield rose to 15.36%). Elsewhere, Nigeria’s eurobond prices mostly increased across the maturities on renewed bargain hunting – 10-year, 6.75% JAN 28, 2021 bond gained USD0.23 (yield fell to 6.49%). However, the 10-year, 6.38% JUL 12, 2023 bond lost USD0.05 (yield rose to 4.63%).  
     
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