NSE ASI Gains 0.66% on Sustained Bargain Hunting Activity;

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Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Tuesday, April 2, 2019. The International Monetary Fund said Nigerias economy was growing too slowly to reduce poverty or joblessness and urged the government to boost revenue and scrap its system of multiple exchange rates. Photographer: Ruth McDowell/Bloomberg via Getty Images

NIBOR Declines Amid Renewed Liquidity Ease…

The Nigerian bourse remained in positive territory, having gained 0.66%, as bargaining hunting activity persisted.

At the close of business, the NSE printed 19 gainers as against 12 losers even as shares of ACCESS, NESTLE and CCNN appreciated by 1.09%, 3.85% & 5.26% respectively, lifting the NSE Banking, NSE Consumer Goods and NSE Industrial indexes higher by 0.69%, 2.04% and 1.19% respectively.

Meanwhile, the total value of equities traded surged by 112.76% to N3.66 billion; however, the total volume of equities traded fell by 25.23% to 227.18 million shares. Consequently, the NSE ASI year-to-date loss shrank to 14.09% from 14.66%.

Elsewhere, NIBOR decline across tenure buckets amid renewed ease in the financial system liquidity; however, NITTY increased for most maturities tracked amid renewed bearish activity.

In the bond market, values of the OTC FGN long term debts rose for most maturities tracked amid buy pressure; on the flip side, FGN Eurobonds fell for most maturities tracked amid profit taking.

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