As NITTY Resumes Downward Trend for Most Maturities Tracked…
The NSE All Share Index moderated further by 2 bps amid sustained bearish activity even as the Exchange printed 18 losers as against 15 gainers at the close of business.
Amongst the worst hit stocks were JBERGER, FLOURMILL, WAPCO and ZENITHBAK as investors sold part of their holdings to book
profit following the stocks’ recent price appreciation. Hence, the year to date gain of NSE ASI moderated to 9.75% from 9.76%.
Nevertheless, we observed a slowdown in profit taking as most of the sub-sectored closed in green: NSE Banking, NSE Industrial, NSE Oil/Gas and NSE Industrial indices by 0.13%, 0.86%, 0.36% and 0.41% respectively.
Meanwhile, the total value of stocks traded fell by 1.97% to N3.64 billion.
Elsewhere, NIBOR moderated for all tenor buckets amid sustained financial liquidity ease; also, NITTY moderated for most maturities on renewed bullish activity.
In the bonds market, the values of OTC FGN bonds moved in mixed directions across maturities.