Share Prices Labor to Climb Further as NSE ASI inches higher by 0.07%

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As NITTY Moves in Mixed Directions…

Nigeria Stock Exchange All Share Index (ASI) rose marginally by 0.07% as the second week of trading in 2020 came to a close.

Much of the bullish stocks found it difficult to climb further today, thus leaving the Exchange with higher number of losers than gainers (28:11).

Similarly, in what appears like a partial profit taking, three of the five sub-sectors closed in red zone.

NSE Banking, NSE Insurance and NSE Oil/Gas indices fell by 1.04%, 2.62% and 0.11%
respectively.

Nevertheless, the year to date gain of the NSE ASI rose to 9.59% from 9.51%. Market activity also slowed as the total volume and value of stocks traded declined by 59.47% and 35.32% to 0.28 billion units and N4.82 billion respectively.

Elsewhere, NITTY moved in different directions across maturities tracked; however, NIBOR fell for most tenor buckets amid renewed financial liquidity ease. In the bonds market, the values of OTC FGN bonds
moved in mixed directions across maturities tracked.

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