Nigeria Stock Exchange ASI Gains 0.68% on Banking Stocks


    12-Month NITTY Rises to 17.29%…

    The local equities market reversed yesterday’s loss, gaining 0.68% as 24 stocks appreciated against 14 stocks.

    On the back of renewed positive
    trades, market capitalization rose by N76 billion to close at N11.32 trillion even as shares of First Bank of Nigeria Plc, Guaranty Trust Bank Plc,
    Zenith Bank Plc and Access Bank Plc lifted NSE Banking index by 2.62%.

    Thus, the year-to-date loss of All Share Index moderated to 18.92%.

    Elsewhere, NIBOR fell for all tenor buckets amid renewed liquidity ease while NITTY rose for most maturities on sustained sell pressure.

    However, OTC FGN Bonds rose for most maturities tracked on buy pressure while FGN Eurobonds fell for all maturities on renewed bearish

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    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.


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