Local Bourse Rebounds Marginally by 0.34% on Bellwethers

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As NIBOR Rises on Liquidity Ease…
The local equities market rebounded by 0.34% on renewed bullish activity, halting the three consecutive sessions of sell-offs despite the Exchange recording 19 gainers as against 20 losers at the close of trade.

Share prices of bellwethers such as NESTLE, NB, DANGCEM and TOTAL moved northward by 2.72%, 0.63%, 0.67% and 5.26% respectively, thus, increasing the NSE Consumer Goods index, NSE Industrial index and NSE Oil & Gas index by 0.08%, 0.26% and 0.30% respectively.

However, the total volume and value of equities traded decreased by 16.94% to 341.96 million units and 28.76% to N3.8 billion. Meanwhile, NIBOR increased for most tenor buckets; however, NITTY moved in mixed directions across maturities tracked.

In the bond market, value of the OTC FGN long term debts moved northwards for most maturities tracked. However, the FGN Eurobonds fell for all maturities tracked.

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