Local Bourse Wanes by 0.90% amid Sustained Bearish Market Activities

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As NITTY, FGN Bond Yields Rise amid Profit Taking…

The NSE ASI dipped by 0.90% amid sustained profit taking activities by investors at the close of trades today even as the exchange printed 19 losers as against 14 gainers.

The shares of NESTLE, ETI and WAPCO dominated the losers table to shed by 1.99%, 3.47% and 2.14% respectively, contracting the Consumer Goods, Banking and Industrial Sector Indices by 0.68%, 2.87% and 0.44% respectively. In the same vein, the total volume of equities traded fell by 44.96% to 128.4 million shares; however, the total value of equities traded rose by 5.08% to N2.39 billion respectively.

Year to date gain of the equities market fell to 0.66%. Elsewhere, NIBOR moved in mixed directions for most tenor buckets; however, NITTY rose all maturities tracked amid bearish market activities.

In the debt market, the FGN long term bond prices fell for all maturities tracked amid profit taking; however, FGN Eurobonds prices rose for all maturities. tracked.

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