NSE ASI Gains 39bps on Sustained Bargain Hunting; NIBOR Falls amid Renewed Liquidity Ease…

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The NSE ASI revved by 0.39% on sustained bullish run, even as the Exchange recorded 26 gainers against 13 losers at the close of business today. Similarly, symbols such as ACCESS, DANGFLOUR and DANGCEM rose 3.01%, 2.88% and 0.53% respectively, pushing the NSE Banking, NSE Consumer Goods and NSE Industrial sectored gauges up by 0.77%, 0.30% and 0.26% respectively.

Consequently, the year to date losses of local shares contracted to 4.28% from 4.64%. In the same vein, the total volume of equities traded increased by 5.08% to 226.98 million units; however, the total value of equities traded nosedived by 46.12% to N1.74 billion from N3.23 billion.

In the bond markets, the value of OTC FGN papers moved in mixed directions for maturities tracked; while, the FGN Eurobonds prices fell across board profit taking.

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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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