; NIBOR Falls on Renewed Liquidity Ease…
Today, the NSE ASI rose by 0.58% amid bargain hunting activity even as the Exchange recorded 21 gainers against only 13 losers. The across-the-board gains was led by the industrial sector stock, CCNN which gained N2.00, thus, lifting the sector’s index by 3.11%.
Similarly, the Insurance, Banking, Consumer goods and Oil/Gas sector gauges rose by 3.50%, 0.34%, 0.22% and 0.28% respectively. Consequently, the year-to-date loss of the local bourse shrunk to 4.11%.
In the money market, NIBOR fell for all tenor buckets amid renewed financial system liquidity ease; however, NITTY increased for most maturities tracked on renewed bearish sentiment.
In the bond market, value of the FGN long term notes appreciated amid renewed buy pressure in the domestic OTC market as did FGN Eurobonds at the international capital market on renewed bullish activity.