As NIBOR Rises amid Renewed Liquidity Strain…
The Nigerian equities market closed the week lower by 0.96% on renewed profit taking activity despite the tight contest between the losers (14)
and the gainers (15).
Also, market turnover plunged by 82.73% to close at N2.63 billion as the N1.29 billion transaction in the shares of Nigerian Breweries Plc was done at lower average price, which coupled with the loss on shares of Dangote Cement Plc, dragged the NSE Consumer Goods
and NSE Industrial sectors lower by 0.68% and 2.78% respectively.
Hence, market capitalization decreased by N111.68 billion while year-to-date
loss of the All Share Index hit to 17.17%.
Elsewhere, NIBOR rose for all tenor buckets on financial liquidity strain; however, NITTY fell for most
Meanwhile, OTC FGN Bonds rose for most maturities on renewed buy pressure; however, FGN Eurobonds fell for most maturities.