Local Bourse Nosedives by 2.43% on Renewed Bearish Activity


As NIBOR Declines for Most Tenor Buckets amid Renewed Liquidity Ease…

At the end of Monday’s trades, the equities market All Share Index (ASI) dipped by 2.43% to close at 21,330.79 points amid renewed profit taking activities even as the Exchange printed 15 Losers as against 11 gainers.

Consequently, the year to date loss of the NSE ASI worsened to 20.53%. Specifically, the share price of bellwether stocks such as MTNN, ZENITHBANK, GUARANTY, INTBREW, ACCESS tanked by 10%, 5.16%, 2.98%, 9.26 and 5.47% respectively.

Consequently, the NSE BANKING and NSE Consumer goods dwindled by 3.62% and 0.92% respectively.

Elsewhere, the volume of stocks traded rose by 85.71% to 0.46 billion units while the value of stocks dipped by 42.43% to N1.93 billion respectively.

Meanwhile, NIBOR declined for most tenor buckets amid renewed liquidity ease; however, NITTY moved in mixed directions.

In the OTC bonds market, the values of FGN bonds was flattish for most maturities tracked; FGN Eurobond dipped for all maturities tracked.

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