Nigeria Stock Exchange ASI Down by 0.73% on Sustained Profit-Taking

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NIBOR, NITTY fall on Consecutive Liquidity Ease…

The bears outran the bulls today and dragged the local market lower by 0.73% having printed 15 losers against 10 gainers. On a year-to-date basis, the NSE ASI further dropped to 4.23% from 3.53%, driven by shares of MOBIL, DANGCEM, NB which slid by 3.82%, 2.12% and 1.72% respectively.

In the same vein, the NSE Oil and gas, NSE Industrial and NSE Consumer goods indices fell by 0.85%, 1.10% and 0.02% respectively.

In terms of activity, the total value of equities traded rose by 1.04% to N3.5billion; on the flipside, the total volume decreased by 5.64 % to 233.45 million units.

Meanwhile, NITTY plunged for maturities tracked amid sustained bullish activity; similarly, NIBOR fell for most maturities tracked on consecutive liquidity ease.

In the bonds market, the values of OTC FGN papers shot up for most maturities tracked; likewise, FGN Eurobond prices rose across maturities tracked in the international Market amid sustained bargain hunting activity.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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