NSE ASI Slumps by 1.33% on DANGCEM, ZENITH, OANDO Shares

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As NIBOR Rises amid Sustained Liquidity Strain…

The Nigerian Bourse closed negatively today, 1.33% down, with 23 losers against 12 gainers recorded.

Most hit were shares of Dangote Cement
Plc, Zenith Bank and Oando Plc, pulling the NSE Industrial, NSE Banking and NSE Oil/Gas, indexes lower by 2.14%, 1.79% and 0.05% respectively.

Also, Stanbic IBTC Bank shares accounted for 49% of traded value, yet couldn’t lift the share price. Consequently, the year-to-date loss of All Share Index increased to 19.95%.

In the money market, NIBOR rose for most maturities tracked amid sustained liquidity strain as did NITTY for
all maturities on sustained sell pressure.

Elsewhere, OTC FGN Bonds rose for most maturities amid sustained buy pressure as did FGN Eurobonds on renewed bullish activity.

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