Nigerian Stock Exchange experiences mixed reaction
The Nigerian Stock Exchange [NSE] was mixed last week as the market indicators – All Share Index [ASI] and market capitalisation reported a weekly gain 0.15 per cent and 0.16 per cent respectively.
Thus, the NSE-ASI and market capitalisation rose by 51.19points and N0.02billion to close at 34,439.40points and N11.70trillion ($59.37bn) respectively
The NSE Lotus Index posted the highest weekly gain of 1.76 per cent whilst the Banking sector index recorded the highest weekly loss of -0.19 per cent
1.62billion shares valued at N14.43billion exchanged hands in 20,124 deals last week
At the Federal Government of Nigeria bond market closed bullish last week as unmet demands from the bond auction were channeled to the secondary market thereby prompting buying activities. As a result, yields decreased by an average of 23bps across all tenors WoW·
Analysts anticipate a mixed market this week as attention shift to the T.bill auction
The DMO sold N20.00billion (five year), N20 billion (10year) and N20 billion (20year) bonds at marginal rates of 13.845 per cent 13.480 per cent and 13.880 per cent respectively at last week’s auction
Consequently, market capitalisation rose by N116.27billion ($0.59billion) and stood at N4.60trillion ($23.36billion) from last week’s figure of N4.49trillion ($22.77billion)
As at 15th April 2015, net market liquidity dropped to N214.22bn: DMBs’ Opening balance (N144.16billion), SDF (N75.58billion) and SLF (N5.52billion).
Interbank Naira rates rose significantly WoW as the market funded for OMO auctions (N274.37billion), bond auction (N60 billion) and several CBN’s foreign exchange interventions (undisclosed amount) whilst an inflow of N81.01billion from Open Market Operation [OMO] redemption was recorded.
Meanwhile, the Nigerian Stock Exchange (NSE) has announced that the second edition of the NSE Corporate Challenge was designed to create awareness on the need to have early diagnosis of cancers.
Addressing over 500 participants during the 5 kilometres walk, run or jog race in the fight against cancer organized by the NSE in partnership with the Committee Encouraging Corporate Philanthropy (CECP), key publicly quoted companies and dealing members in Lagos at the weekend, the Executive Director, Market Operations and Technology, NSE, Ade Bajomo explained that the event was designed to create awareness on the need for early diagnosis of cancers as most cancers can be treated if detected at the early stage.
“According to the World Health Organization, one third of all cancers can be prevented, another one-third can be effectively cured with early diagnosis and palliative care can improve the quality of life of the last third.”
The Head of Corporate Services Division at the NSE, Adeeko said; “We are proud of the growth of this year’s edition of the NSE Corporate Challenge. This initiative is our flagship CSR event and it means a lot to us.”
Everyone knows someone who has been affected by this dreadful disease.
“Through this initiative, we want to provide access for early detection and treatment of cancers so that people can live to their full potentials. The funds raised will go toward the acquisition of Mobile Cancer Centres across Nigeria as we look to save lives.” He said.