TheCable

Nigeria’s benchmark 10-year bond fell by seven basis points to 12.52 per cent, while the three-year bond lost 16 basis points to 11.71 per cent on Thursday.

These happened after Godwin Emefiele, the new governor of Central Bank of Nigeria (CBN), revealed his intention to cut interest rates.

From the Nigerian Stock Exchange (NSE), investors staked N6.32 billion on 447.41 million shares in 5,943 deals, representing a 3.83 per cent increase over the 430.922 million shares worth N6.52 billion traded in 5,569 deals on Wednesday.

The financial services sector remained the toast of investors as Zenith Bank emerged the most traded equity, accounting for 118.57 million shares valued at N3.01 billion.

Unitykap came second with 112.28 million shares worth N56.14 million, while Transcorp accounted for 26.93 million shares valued N112.17 million.

The NSE All-Share Index depreciated by 57.36 points or 0.14 per cent to close at 41,570.07 against the 41,627.43 achieved on Wednesday.

Similarly, the market capitalisation dropped N19 billion or 0.14 per cent to close at N13.726 trillion from the N13.745 trillion posted on Wednesday.

Forte Oil led the losers’ chart, losing N7 to close at N250.01 per share.

Seplat trailed with a loss of N1.95 to close at N675, while Oando dropped N1.34 to close at N19 per share.

On the other hand, Conoil recorded the highest price gain of N2.41 to close at N50.82 per share.

It was trailed by Okomu Oil, which gained N1.50 to close at N34.50, while CAP and Guinness added N1 each to close at N40 and N178.50 per share, respectively.