Nigerian Equities Gain 0.15% on Consumer Goods Stock

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

as OTC FGN Bond Prices Move in Mixed Directions…

The local bourse rose by 0.15% amid renewed bargain hunting activity despite the Exchange recording 20 losers as against 10 gainers.

Market capitalization increased today by N17 billion to close N11.26 trillion as shares of Nestle Nigeria Plc and Dangote Sugar Refinery Plc lifted NSE
Consumer Goods index by 1.95%.

Hence, the year-to-date loss of All Share Index decreased to 19.28%. Elsewhere, NIBOR rose for all tenor
buckets amid sustained liquidity strain while NITTY rose for most maturities as FPIs continued to sell down their investment.

However, OTC FGN Bond prices moved in mixed directions while FGN Eurobond prices fell for all maturities on sustained bearish activity

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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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