INVESTMENT IN FGN BONDS DECLINES, TRADING DIPS BY 3.5%
Investors' interest in Federal Government of Nigeria's, FGN, Bonds declined last week, as the volume and value of bonds traded in the Over-the-Counter, OTC, market both dipped by 3.54 per cent and 4.29 per cent respectively.
In particular, a turnover of 243.77 million units valued at N221.854 billion was recorded in 2,018 deals in contrast to the previous week's turnover of 252.72 million units valued at N231.781 billion exchanged in 1,798 deals.
The 10 per cent FGN Bond July 2030 (7th FGN Bond 2030 Series 3), enjoyed the most patronage, accounting for 34.05 per cent of the total turnover, with 83 million units valued at N71.559 billion in 791 deals.
The 4.00 per cent FGN April 2015 (7th FGN Bond 2015 Series 2), followed, accounting for 22.95 per cent of the market turnover, with 55.94 million units valued at N44.676 billion in 474 deals.
Of the available 29 FGN Bonds available, only 18 enjoyed investors' patronage compared to 15 in the preceding week.
Meanwhile, the inactivity in the other fixed income securities sector continued, as there were no transactions through the stock market in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.