YTD NSE ASI Gain Wanes as Local Shares Fall by 0.71%

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as NIBOR Falls amid Sustained Liquidity Ease…

The Domestic bourse waned by 0.71% amid sustained profit taking activity at the sound of the closing gong despite the positive financial results released by companies so far.

The share prices of OANDO, UNILEVER, DANGSUGAR and ZENITHBANK decreased by 9.66%, 4.65%, 2.60% and 3.49% respectively pulling the Oil & Gas, Consumer Goods and Banking Sectored Indices down by 1.65%, 0.66% and 1.44% respectively.

However, the total value of equities traded rose by 10.07% to N2.70 billion as did the total volume of traded equities which increased by 41.55% to 456.1 million units. Thus, year-to-date gain of the NSE ASI moderated to 2.59%.

Elsewhere, NIBOR moderated for all tenor buckets on sustained financial liquidity ease; however, NITTY moved in mixed directions across maturities tracked.

In the bond market, value of the OTC FGN long term debts rebounded for most maturities tracked as did FGN Eurobonds for all maturities tracked.

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Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

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