Shares of DANGCEM, FLOURMILL and ZENITH remains investors’ toast as equity index rise by 0.90%


    As NITTY for All Maturities Falls below 5%…

    The local equities market remained upbeat as the All Share Index rose further by 0.90% amid bargain hunting activity.

    Also, the Exchange printed 26 gainers against 18 losers, sustaining seven consecutive days of bullish activity.

    Shares of DANGCEM, FLOURMILL and ZENITH remained the toast of investors today even as the increase in their respective prices lifted the NSE Industrial, NSE Consumer Goods and NSE Banking by 1.66%, 0.20% and 1.85% respectively.

    Hence, the year to date gain of the NSE ASI improved to 2.78% from 1.85%. The total value of stocks traded rose further by 8.76% to N5.82 billion as investors expended N1.51 billion on ZENITH Bank’s shares today.

    Elsewhere, NITTY fell further for most maturities tracked amid sustained investors interest in fixed income securities even as all maturities traded below 5%.

    However, NIBOR rose for most tenor buckets on liquidity ease. In the bonds market, the values of OTC FGN bonds increased further for most maturities tracked amid sustained bullish activity.

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    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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