23 Stocks Drive Nigerian Equities 0.34% Appreciation

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As NIBOR Rises amid Sustained Liquidity Strain…

Today, the Nigerian Stock Market rose by 0.34% on renewed bargain hunting activity with the trading floor recording 23 gainers against 16
losers at close.

Top gainers included shares of Dangote Cement Plc, Nigerian Breweries and Forte Oil which lifted the NSE Industrial, NSE
Consumer Goods and NSE Oil/Gas sectors by 0.66%, 0.58% and 0.10% respectively. Notably, shares of Zenith Bank Plc accounted for 40% of total
traded value.

Elsewhere, NIBOR rose for most tenor buckets amid sustained liquidity strain while NITTY fell for most maturities on renewed buy pressure.

In the bond market, OTC FGN bond prices rose for all maturities amid buy pressure while FGN Eurobond prices fell for all maturities on
renewed 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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