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.