Lagos Bourse Revs by 0.02% on Access, UBA & UACN Shares

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As NIBOR Moderated for Most Tenor Buckets on Renewed Liquidity Ease…

The NSE All Share Index (ASI) revved by 0.02% as investors continued to position in selected banking stocks.

Consequently, the year to date gain of the local bourse rose marginally to 3.86%.

Nevertheless, we saw the Exchange print 9 gainers as against 17 losers even as market activity slowed.

Also, the five sub-sectors tracked moved in different directions: the NSE Banking and NSE Industrial indices rose by 0.21% and 0.08% respectively while the NSE Insurance and NSE Consumer Goods indices nosedived by 0.23% and 0.31% respectively.

Elsewhere, the volume and value of stocks traded moderated by 70.35% and 71.43% to close at 0.08 billion units and N1.06 billion.

Meanwhile, NIBOR moderated for most tenor buckets amid renewed financial system liquidity ease; however, NITTY moderated for most tenor buckets amid renewed bullish activity.

In the bonds market, the values of FGN bonds rose for most maturities tracked; also, FGN Eurobonds prices appreciated further for most maturities tracked in the international market.

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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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