Nigerian Stocks Rebounded by 0.02% as Investors Remain Cautiously Optimistic


as NITTY Moves Sharply towards Lower Single Digit amid Liquidity Ease…

The Nigerian equities market rebounded by 0.02%, signaling weak investor interest in shares.

Despite the rise in All Share Index, the Exchange recorded 18 losers as against 17 gainers as some investors cherry-picked stocks.

Hence, year to date loss of the NSE ASI marginally reduced to 15.16% from 15.18% even as three of the five indices rose: the NSE Insurance, NSE Consumer Goods and NSE Industrial sectored gauges increased by 0.16%, 0.11%, and 0.01%.

Amid weak investment activity, total value traded moderated by 33.35% to N3.19 billion and the total volume dropped by 29.90% to 232.68 million units.

Elsewhere, NITTY nosedived, for all maturities tracked, towards lower single digit, on sustained demand pressure; also, NIBOR declined for most tenor buckets on sustained liquidity ease.

In the bonds market, the values of OTC FGN bonds remain unchanged for all maturities tracked; however, FGN Eurobond prices reversed yesterday’s gains for most maturities tracked in the international market.

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