The Lagos bourse closed southwards by 79bps for the fourth consecutive trading session as the bears walloped the bulls – having registered 15 losers as against 12 gainers – at the end of trade today.
Hence, the year to date loss of local stocks exacerbated to 15.37% from 14.70%. Counters such NB, NESTLE, PZ and DANGCEM also dwindled by 4.00%, 1.22%, 10.00% and 3.91% respectively, dragging the NSE Consumer Goods and NSE Industrial sectorial indexes down by 1.80% and 1.63% respectively.
Meanwhile, the total values of equities trade increased by 191.55% to N7.40 billion; similarly, the total volume of equities traded ballooned by 217.86% to 591.04 million units.
Elsewhere, NIBOR rose across tenure buckets amid renewed squeeze in the financial system liquidity while NITTY moved in heterogenous directions across maturities tracked. In the bonds market, the prices of OTC FGN papers moved in mixed directions for most maturities tracked; however, FGN Eurobond prices dipped for most maturities tracked.