The Federal Government plans to raise between N250 billion and N340 billion in local currency-denominated bonds in the fourth quarter,
The debt office said it would auction between N90 -1 20 billion worth of bonds maturing in 2021, N70-100 billion in the debt maturing in 2026 and N90 – 120 billion worth in the paper maturing in 2036.
In its latest issuance calendar, the debt office said the bonds will be re-opened from previously issued debt. The country had planned to raise between N305 – 395 billion worth of debt in the third quarter but ended up issuing N460 billion worth.
Meanwhile, trading in equities lost some ground on the Nigerian Stock Exchange yesterday due to shift in sentiment even as catalysts was limited.
The All Share Index depreciated by 0.05 per cent to close at 28,248.86 points, while market capitalization lost N5billion to close at N9.70trillion. Analysts at DLM Securities said the market trend suggests a likely prolong riskoff sentiment and continue bid for safe-haven assets.
Also, investment analysts at United Capital noted that the marginal decline in the equities market can be attributed to sell-offs in the oil and gas sector as investors continued to lock-in gains on earlier positions taken.
“We expect sentiment to remain mixed in tomorrow’s trading session, albeitwith a bullish bias as valuations continue to attract,” the analysts said.
However, the total value of stocks traded was N1.41billion, down 27.90 per cent from N1.96billion recorded the preceding day.
The total volume of stocks traded was 294.90million in 3,142 deals, while the three most actively traded stocks were Livestock Feeds, FCMB and United Bank for Africa.
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