Monthly Markets Review – Overview of Markets in September 2017

October 4, 2017/Cordros Research

Click here to download full PDF copy of report

Highlights:

  • Sentiments were mixed across global equities market, with economic data, geopolitical tension, politics, natural disaster, monetary policy decisions, and currency swings making the list of factors that shaped activities.
  • The prices of Nigerian equities closed lower for the second consecutive month, as investors took profit across most sectors, particularly the Oil and Gas, wherein stocks recorded the largest contraction.
  • The overnight money market rate expanded by 583 bps to 14.25% vs. 8.42% last month, following substantial outflows from auctions and FX sales.
  • Demand rebounded in the Nigerian Treasury Bills market, supported by a relatively stable and improved system liquidity and partly renewed foreign investor interest.
  • The bond market posted a positive return in September, also on improved liquidity position and renewed foreign investor interest.
  • The apex bank continued to defend the Naira via continuous intervention in the FX market. The Naira weakened against the USD at the interbank market and remained flat at the parallel segment.

Click here to download full PDF copy of report

 

opan



investadvocate