Local Bourse Falls by 39bps on Sustained Bearish Activity


As NIBOR, NITTY Moderate for Most Tenor Buckets on Liquidity Ease…
MPR: 13.50%

Dec ’19 Inflation Rate: 11.98% Q3 2019 Real GDP: 2.28%

The NSE All Share Index (ASI) waned by 0.39% amid sustained profit taking activities even as the local bourse recorded 19 losers as against 9 gainers at the close of trade.

Hence, the year to date gain of the equities market moderated to 3.40%. Investors were bearish on consumer goods stocks as share prices of UACN and GUINNESS moderated by 10.00% and 3.74% respectively.

Of the five sub-sector gauges, four closed in red: the NSE insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial fell by 1.13%, 0.20%, 0.19% and 0.07% respectively.

Elsewhere, market activity remained weak as the volume and value of stocks traded declined by 12.01% and 53.99% to close at 13.26 billion units and N1.28 billion respectively.

Meanwhile, NIBOR and NITTY moderated for most tenor buckets amid renewed financial system liquidity ease.

In the bonds market, the values of FGN bonds were flattish for most maturities; however, FGN Eurobonds prices appreciated further for all maturities tracked in the international market.

This site uses Akismet to reduce spam. Learn how your comment data is processed.