Local Equities Up 0.45%, on DANGCEM Shares


; NIBOR Rises on Renewed Liquidity Strain…
Amid extended trading hours to 3.30 p.m today due to the technical glitch encountered by the Nigerian Stock Exchange, the local stocks gained 0.45% to sustain its positive run.

Industrial stocks, led by DANGCEM which remained the toast of investors, lifted the NSE Industrial Index by 1.08%. In the same vein, the Exchange registered equal number of gainers and losers (11).

However, market volume and turnover plunged by 35.82% and 60.49% to 132.41 million shares and N1.08 billion respectively. In the money market, NIBOR rose for most tenor buckets amid renewed financial system liquidity strain; however, NITTY moderated for most maturities tracked on sustained buy pressure.

In the bond market, FGN long term notes rolled southwards amid renewed sell pressure in the domestic OTC market as did FGN Eurobonds at the international capital market on renewed bearish 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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