Nigerian Bourse Rebounds by 1.09% on Shares of Nestle, Access; NIBOR Rises


Amid Sustained Liquidity Strain…
The Nigerian equities market rebounded by 1.09% amid renewed bargain hunting activities, especially on shares of NESTLE and ACCESS, even as the bulls outnumbered the bears.

Consequently, the year to date loss of the local stocks contracted to 12.25% from 13.20%.

In the same vein, all of the five sub-sector gauges – NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil & Gas and NSE Industrial – closed in the green territory by 0.51%, 3.58%, 4.85%, 5.70% and 0.02% respectively.

Meanwhile, the total volume and value of equities traded plunged by 60.32% and 63.08% to 183.47 million units and N2.93 billion respectively.

Meanwhile, NIBOR rose for most tenor buckets amid sustained liquidity strain; however, NITTY fell for most maturities tracked on sustained bullish activity in the secondary T-bills market.

In the bond market, the prices of OTC FGN bonds were flattish for most maturities tracked while FGN Eurobond prices rallied for all maturities tracked in the international debt market.

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