As NIBOR Rises amid Sustained Liquidity Strain…
The Nigerian Stock Market closed in the negative by 1.07% on renewed profit taking activity having recorded 22 losers against 17 gainers.
The NSE Industrial, NSE Banking and NSE Consumer Goods Sector fell by 1.61%, 0.81% and 0.27% as shares of Dangote Cement Plc, First Bank of Nigeria Holding Plc and Nestle Nigeria shed weight, thus increasing the year-to-date loss of All Share Index to 19.41%.
Elsewhere, NIBOR rose for
most tenor buckets amid sustained liquidity strain as did NITTY on sell pressure.
In the bond market, OTC FGN Bond prices fell for most maturities tracked on sustained sell pressure as did FGN Eurobond prices for all maturities on sustained bearish activity.