By Ololade julianah
At the close of trading on Thursday, the two main indicators of The Nigerian Stock Exchange (NSE) both closed northward, appreciating by 0.64 percent each.
The Nigeria All Share Index settled at 25,306.22 points after it appreciated by 160.94 basis points or 0.64 percent while market capitalisation grabbed N55.361 billion to close at N8.704 trillion.
Shares of major petroleum products marketers, Total Nigeria and Mobil Oil Nigeria, gained N7.32 and N5.99 to close at N153.82 and N161.99 per share respectively. Also, shares of upstream oil and gas player, Seplat, relapsed by N10 to N300 apiece while oil palm processor, The Okomu Oil Palm Company, lost N1.57 to close at N29.85 a share.
First City Monument Bank emerged the most traded equity with an exchange of 44.389 million shares worth N38.098 million. It was trailed by Fidelity Bank; having accounted for 34.849 million shares valued at N46.241 million, while Sterling Bank sold 32.427 million shares worth N52.504 million, Guaranty Trust Bank exchanged 30.750 million shares valued N442.236 million while FBN Holdings traded 19.767 million shares worth N61.008 million.
At the close of trading session, money markets rates moved south as OMO maturity of N179.0 billion boosted market liquidity. As a result, the Open Buy Back (OBB) and the Overnight (O/N) rates dipped south by 721 basis points on average to settle at 5.6 percent and 6.4 percent.
Also at the interbank, key NIBOR rates all declined, with the O/N, 1M, 3M and 6M all sliding down 804 basis points, 83 basis points, 80 basis points and 79 basis points to berth at 7.0 percent, 9.9 percent, 11.7 percent and 13.1 percent in that order.
However, the Treasury Bills relayed bearish sentiment save the 12 million Treasury bill which shed a marginal 1 basis point to settle at 10.1 percent. On average, yields across the board inched higher by 23bps to settle at 8.4 percent. The short to mid end of the curve saw the most pronounced sell-offs as the 1M and 3 million bills shed 39 basis points and 36ps to settle at 5.9 percent and 8.4 percent accordingly.
Similarly, the bond market also sustained the recent bearish pattern save the JUN-2019 and JAN-2022 instruments which shed 2bps on average to 10.6 percent and 11.4 percent. Average yields inched higher by 6bps to settle at 11.7 percent. Specifically, the APR-2017 and FEB-2020 instruments both saw yields inch higher 31 basis points and 4 basis points to close at 10.4 percent, and 11.6 percent respectively.