Lagos Bourse Sheds 0.36% on Sustained Bearish Activity; NIBOR Contracts Amid Renewed Liquidity Ease…

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The Local equities market was down 36bps to close the trade session for the week on a bearish note having printed 17 laggards as against 11 gainers.

On a year-to-date basis, the negative performance of the ASI exacerbated to 14.14% from 13.82%.

Tickers such as ZENITH, FO and CCNN dwindled by 1.37%, 9.76% and 1.60% respectively, dragging the NSE Banking, NSE Oil & Gas and NSE Industrial sectored gauges lower by 1.11%, 0.50% and 1.61% respectively.

Meanwhile, the total volume of equities traded waned by 8.15% to 138.88 million units while the total value fell by 59.01% to N1.03 billion.

Elsewhere, NIBOR dipped for most tenure buckets amid renewed liquidity ease; however, NITTY increased for most maturities tracked amid renewed sell pressure in the secondary treasury bills market.
In the bonds market, the values of OTC FGN debts were flattish for most maturities tracked; however, FGN Eurobond prices contracted for most maturities tracked amid sustained bearish activity in the international bond market.
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