; NIBOR Rises on Renewed Liquidity Strain…
Amid extended trading hours to 3.30 p.m today due to the technical glitch encountered by the Nigerian Stock Exchange, the local stocks gained 0.45% to sustain its positive run.
Industrial stocks, led by DANGCEM which remained the toast of investors, lifted the NSE Industrial Index by 1.08%. In the same vein, the Exchange registered equal number of gainers and losers (11).
However, market volume and turnover plunged by 35.82% and 60.49% to 132.41 million shares and N1.08 billion respectively. In the money market, NIBOR rose for most tenor buckets amid renewed financial system liquidity strain; however, NITTY moderated for most maturities tracked on sustained buy pressure.
In the bond market, FGN long term notes rolled southwards amid renewed sell pressure in the domestic OTC market as did FGN Eurobonds at the international capital market on renewed bearish activity.