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
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.