Stock market records first gain this week ahead of T-Bills auction

Nigeria’s equities market on Tuesday recorded its first gain this week, rallying by 0.62 percent at the close of trading. The market’s positive close came ahead of Tuesday’s treasury bills auction.

The Central Bank of Nigeria (CBN) will hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) on Wednesday September 11. At the PMA, existing T-bills totaling N161.88billion (N6.78billion, N4.92billion and N150.18billion across the 91-day, 182-day, and 364-day instruments, respectively) will mature and be rolled over.

SFS REIT rose most by N14.80 or 9.98 percent, from N148.35 to N163.15, followed by Custodian Investment which rose by N1.10 or 8.87 percent, from N12.40 to N13.50; while RT Briscoe moved from N2.82 to N3.10, adding 28kobo or 9.93 percent.

The Nigerian Exchange Limited (NGX) All Share Index (ASI) rose from 96,206.46 points to 96,802.8 points while equities market capitalisation increased to N55.626 trillion from N55.282 trillion the preceding trading day. The stock market’s return year-to-date (YtD) increased to 29.46 percent. In 12,241 deals, investors exchanged 406.19 million shares worth N13.31billion. Oando, Access Holdings, Japaul Gold, FBN Holdings and UBA were actively traded stocks.