…As FG offers 2-year, 3-year March bonds at 11.62%, 12.62% respectively***

Transactions opened on the nation’s Stock Exchange for the week on Monday with a growth of 0.95 per cent, following gains by some blue chips.

The market capitalisation inched unto N113 billion or 0.95 per cent to close at N11.981 trillion against N11.868 trillion on Friday.

Similarly, the All-Share Index which opened at 31,827.24 points rose by 302.70 points or 0.95 per cent to close at 32,129.94 points.

International Breweries led the gainers’ table in the transactions, appreciating by N2 to close at N27 per share.

Guaranty Trust Bank followed with a gain of N1.70 to close at N37.20, while Zenith Bank gained 55k to close at N24.50 per share.

Dangote Flour added 50k to close at N10.40, while Dangote Cement Industries increased by 40k to close at N197 per share.

Conversely, PZ Cussons topped the losers’ chart, dropping by N1.30 to close at N12.15 per share.

UACN trailed with a loss of 25k to close at N8.25 per share, while Dangote Sugar declined by 15k to close at N14.50 per share.

United Capital shed 10k to close at N3.25 per share, while Glaxosmithkline dropped by 10k to close at N11.90 per share.

Diamond Bank was the most active stock, exchanging 33.03 million shares worth N82.11 million.

United Bank for Africa followed with an account of 31.06 million shares valued at N239.14 million, while Zenith Bank traded 28.87 million shares worth N703.10 million.

Access Bank sold 21.01 million shares valued at N124.20 million, while Transcorp exchanged 16.98 million shares valued at N21.43 million.

In all, investors traded 228.48 million shares valued at N2.61 billion achieved in 3,544 deals.

This was in contrast with 341.95 million shares worth N3.75 billion exchanged in 4,513 deals on Friday.

Meanwhile, the Federal Government has offered for subscription two-year and three-year savings bonds at 11.62 per cent and 12.62 per cent per annum, the Debt Management Office (DMO) has said.

According to the offer circular obtained from the DMO website on Monday, the two-year bond will be due in March, 2021 while the three-year bond will mature one year after.

It, however, did not state how much was offered, but added that the maximum subscription was N50 million at N1, 000 per unit, “subject to minimum subscription of N5, 000 and in multiples of N1, 000’’.

The office said that the bond was fully backed by “the full faith and credit of the Federal Government, with quarterly coupon payments to bondholders’’.

The savings bond issuance is expected to help finance the nation’s budget deficit.

It is also part of Federal Government’s programme targeted at the lower income earners to encourage savings and also earn more income (interest), compared to their savings accounts with banks.

The circular also said that the offer would close on Friday.