As NITTY Falls Further despite Rising T-Bills Stop Rates…
The local equities market fell lower by 0.27% as the bulls continued to lose grip amid recent rebound in T-bills stop rates.
Also, the bears took over the Exchange as number of losers (21) outweighed that of the gainers (10) at the sound of the gong today.
Specifically, Lafarge Africa (WAPCO) and UACN shares led the losers table as their respective share prices fell by 7.08% and 10.00% which partly accounted for the decline in NSE Industrial and NSE Consumer Goods sub-sector indices by 2.11% and 0.04% respectively.
Hence, the year to date gain of NSE ASI melted to 8.16% from 8.45%.
Meanwhile, market activity was upbeat as total deals, transacted volumes and Naira votes rose by 21.54%, 9.94% and 96.37% to 4,322, 266.89 million shares and N9.02 billion respectively.
Elsewhere, NIBOR rose for most tenor buckets amid financial system liquidity strain; while NITTY fell for most maturities despite rising stop rates.
In the bonds market, the values of FGN Eurobonds depreciated (and yields rose) for all maturities tracked.