Local Shares Moderate by 4bps on Sustained Bearish Activity

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; NIBOR Falls amid Renewed Liquidity Ease…

The Local bourse waned marginally by 0.04% amid sustained profit taking activities, even as the Exchange registered 15 losers against 12 gainers at the close of business today.

Also, we saw share prices of DANGCEM, NEM and ETI plunge by 0.27%, 9.87% and 6.6% respectively thus, dragging the NSE Industrial, NSE Insurance and NSE Banking Sectored gauges down by 0.13%, 1.76% and 0.48% respectively.

Consequently, the year to date losses of local stocks rose slightly to 7.26% from 7.22%. In the same vein, the total value of equities traded moderated by 41.85% to N3.1 billion; as did the total volume of equities traded which fell by 17.95% to 374.03 million units.

Elsewhere, NIBOR fell for most tenure buckets on liquidity squeeze, as did NITTY for most maturities.

The value of OTC FGN debts fell for most maturities tracked; while, the FGN Eurobonds prices increased for most maturities tracked.

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