Nigeria Stock Exchange ASI Rises by 0.80% on Across-the-Board Gains;

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As NITTY Moves in Mixed Directions…

The local bourse increased by 0.80% amid sustained bargain hunting activity even as the Exchange recorded increased number of gainers to 41 stocks from 31 stocks registered yesterday. Amid the equities market rally for the seventh consecutive trading session, we saw the year-to-date gain of the NSE ASI increase to 1.12%.

Similarly, shares of STANBIC, UNILEVER and SEPLAT which rose by 2.13%, 5.41% and 0.89% respectively lifted their respective sector gauges by 1.90%, 0.42% and 0.58%.

However total volume and value of equities transactions plunged by 23.79% and 53.73% respectively to 551.59 million units and N5.65 billion. Meanwhile, NIBOR rose for all tenor buckets amid financial liquidity strain; however, NITTY moved in mixed directions across maturities tracked.

In the bond market, value of the OTC FGN long term debts rose for most maturities tracked amid sustained bullish activity; however, FGN Eurobonds fell for most maturities tracked.

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