Market Insight 09 August 2016  
  NSE ASI Sheds 45 Bps as Oil/Gas Stocks Tank, Tuesday NSE Market Summary Nigerian Stock Exchange All Share Index slid deeper into the red zone as it shed 45bps having recorded 6 gainers against 31 losers. NSE Oil & Gas Index slumped by 110 bps following losses from Mobil Oil Nigeria, Seplat Petroleum Development Company and MRS Oil Nigeria. Meanwhile, traded volumes and Naira votes rose by 252.10% and 70.11% respectively; shares of Zenith Bank, Guaranty Trust Bank and FBN Holdings jointly accounted for 55% of total Naira votes. Gainers & Losers Shares of petroleum products marketer, Total Oil Nigeria, brewer of beer and malted drinks, Nigerian Breweries and commercial bank, Guaranty Trust Bank, gained N6.05, N0.30 and N0.05 to close at N236.00, N130.30 and N24.00 respectively. Conversely, shares of petroleum products marketer, Mobil Oil Nigeria, indigenous oil company, Seplat Petroleum Development Company and building materials manufacturer, Dangote Cement, lost N8.93, N8.00 and N1.00 to close at N169.67, N242.00 and N179.00 respectively. Interbank Money Market Nigerian Interbank Treasury Bills True Yields (NITTY) increased across most maturities amid sell pressure – yields on 1 month, 3 months and 12 months bills rose to 14.99%, 17.16%, and 23.10% respectively. However, the 6 months yield fell to 18.13%. Meanwhile, Nigerian interbank offered rates increased across most tenor buckets amid sustained liquidity strain – NIBOR for 1 month, 3 months and 6 months maturities rose to 17.81%, 19.43% and 22.10% respectively. However, the yield for overnight funds fell to 20.25%. FGN Bond Market – OTC NG & Eurobonds Bond prices increased across all maturities on renewed bargain hunting – 20-year, 10.00% FGN JUL 2030 bond, the 7-year, 16.00% FGN JUN 2019 debt and the 5-year, 15.10% FGN APR 2017 debt gained N0.29, N0.24 and N0.17 respectively (yields fell to 15.18%, 15.15% and 18.91% respectively). In the same vein, Nigeria’s eurobond prices mostly increased across maturities on renewed bargain hunting – 10-year, 6.38% JUL 12, 2023 bond and 10-year, 6.75% JAN 28, 2021 rose by USD0.68 and USD0.63 respectively (yields fell to 6.58% and 6.32%).  
     
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