The Lagos bourse journeyed further into the negative territory by 0.35% amid sustained bearish sentiment by market players, even as the Exchange registered 16 losers as against 15 gainers at the close of trade session today.
Thank you for reading this post, don't forget to subscribe!Hence, the year to date loss of local stocks worsened to 10.94% from 10.63%. Elsewhere, NIBOR increased for most tenure buckets amid sustained strain in financial system liquidity; also, NITTY rose for most maturities tracked amid renewed bearish activities in the secondary market.
In the bonds market, the value of OTC FGN papers appeared flattish for most maturities tracked; while, Nigerian Sovereign Eurobond market witnessed demand pressure across maturities tracked amid the dovish monetary policy stance by the central banks of the developed markets.