In a Reuters report, the Debt Management Office (DMO) said a total of N20billion worth of the five-year bond was sold at 16.49percent, up 95 basis points from 15.54percent from the previous sale in February.The 10-year paper was sold at 16.84 percent compared with 15.75 percent previously, raising a total of 40 billion naira, while 31 billion naira worth of the 20-year debt note was sold at a yield of 19.99 percent, up from 15.85 percent previously.Dealers said the sale attracted low demand from investors. Total subscriptions stood at 119.14billion naira compared with 123.6 billion naira at the last auction.Meanwhile transaction on the Nigerian Stock Exchange (NSE) regained its strength by N35billion yesterday as President Goodluck Jonathan visited the trading floor and interacted with traders.The market which lost N162 billion on Wednesday due to profit taking, recuperated N35 billion at the end of yesterday trading which experts believed was triggered by the visit. However, the market index added 104.63 basis points to settle at 30,973.8 points.The banking counters were the major drivers of the gain in the market, as investors continued to take position in the stocks based on their corporate numbers and actions. They include FBN Holdings Plc, Ecobank Transnational Incorporation Plc, Guaranty Trust Bank Plc, and Zenith Bank Plc. Experts at United Capital Plc expect investors to continue to book gains in the market, while they expect good corporate results to encourage position taking in stocks with good fundamentals.Market breadth closed negative as Cutix Plc led 13 gainers against 21 losers topped by Dangote Sugar Plc at the end of the trading which was an unimproved performance when compared with previous outlook. Cutix Plc appreciated by of 8.57 percent to close at N1.52 kobo per share, followed by University Press Plc with 5.23 percent gain to close at N4.63 kobo, while FBN Holdings Plc grew by 4.94 percent to close at N8.93 kobo per share. Among the depreciation was Dangote Sugar Plc which went low by 5.00 percent to close at N6.46 kobo per share. Union Dicon Plc followed with 4.96 percent to close at N12.46 kobo per share while Skye Bank Plc lost 4.64 percent to close at N2.26 kobo per share.
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