Lagos Bourse Index Rises by 0.73% on Blue-Chip Companies

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As NITTY for all Maturities Hover around 5% amid Sustained Buy Pressure…

On the first day of the trading week, the NSE ASI rose by 0.73% as share prices of the blue-chip companies, such as SEPLAT, NESTLE, NB and DANGCEM, closed higher.

Also, the Exchange registered 24 gainers against 12 losers even as most of the sectored gauges closed in green zone: NSE Insurance, NSE Consumer Goods, NSE Oil/Gas, NSE Industrial indices rose by 1.02%, 2.13%, 5.08% and 0.42% respectively.

Hence, the year to date loss of the NSE ASI reduced to 15.34% from 15.95%.

Investors exchanged the shares of DANGCEM, MTN and GUARANTY, resulting to an increase in total value of stocks traded by 136.39% to N7.19 billion.

Elsewhere, NITTY moderated further for all maturities tracked, hovering around 5% amid buy pressure; however, NIBOR moved northwards for all tenor buckets tracked on sustained liquidity strain.

In the debt market, the values of OTC FGN bonds rose for most maturities tracked amid renewed buy pressure; however, FGN Eurobond prices fell for most maturities tracked in the international market.

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