Trading activities at the Nigerian bonds secondary market ended on a mixed note amidst interest rate hike expectations in the new week.

Despite the intervention of the monetary authority, the exchange rates of the Nigerian local currency,

After the spot rate on one-year bills was raised by 50 basis points to 23.50% at the primary market auction last week,

As liquidity conditions continued to be severely strained, money market rates rose and trended above 32% each. 

With about 8% negative price movement in the just concluded week, the equities market value of Access Holdings Plc declined to N814 billion on Friday due to sell pressure from investors that sought to exit their positions.

FBN Holdings Plc’s market value fell by 8%, or about N79 billion, on the Nigerian Exchange as investors exited their position in the financial services company. This has brought its stock market price near its rights offer price.