12 Months NIITY Moderates to 17.29%…
Trading on domestic equities was generally bearish on the first trading day of the new year.
The NSE ASI fell by 1.15% amid renewed profit taking activities as the bourse recorded 22 losers against 16 gainers.
In the banking subsector, shares of Access Bank and Diamond Bank, which jointly accounted for 16% of total Naira votes, tanked by 4.41% and 1.38% respectively; while shares of food and beverage giant, Nestle Nigeria, which accounted for 12% of total Naira votes, softened by 0.67%.
NIBOR for overnight funds moderated to 19.21% while 6 Months NIBOR rose to 14.70%.
Meanwhile 1 Month NITTY upped to 14.94% while 12 Months NITTY softened to 17.29%.
In the bond market, OTC FGN bond prices moved in mixed directions in both the local FGN OTC market and the international bond market for FGN Eurobonds