As NIBOR and NITTY Rises for Most Maturities…
The Local bourse dipped by 127bps amid sustained bearish activity to close at 27,041.03 pts at the end of Monday’s trades.
The Exchange reordered 33 losers against only 5 gainers hence, the year to date gain of the NSE ASI plunged to 0.74%.
Banking stocks like Zenith, Access, Guaranty and Fidelity shed 0.75%, 0.60%, 1.05% and 0.09% respectively thereby moderating the NSE Banking index by 4.78%.
However, the sub-sector indices, NSE Insurance, NSE Consumer goods, NSE Oil/Gas and NSE industrial indexes moderated by 0.47%, 0.72%, 0.45% and 0.85% respectively.
Meanwhile, market activity was upbeat as volume and value of stocks traded rose by 1.83% and 31.44% to 0.49 billion units and N7.29billion respectively.
Elsewhere, NIBOR and NITTY rose for all tenor buckets amid sustained financial system liquidity strain; In the OTC bonds market, the values of FGN bonds rose for all maturities; however, FGN Eurobond prices moderated for most maturities tracked.