As NIBOR Rises for Most Tenor Buckets amid Renewed Liquidity Strain….

The Local Bourse All Share Index (ASI) gained 0.10% to close at 21,121.20 points amid renewed bullish activity despite the Exchange printing 7 gainers against 19 losers at the close of trade.

Consequently, the year to date loss of the NSE ASI moderated to 21.31%.

Investors were bullish on the shares of DANGCEM as it rose by 9.93%, hence lifting the NSE Industrial index by 2.37% to close in green territory.

On the flip side, the NSE Banking, NSE Insurance and NSE consumer goods indices plunged by 2.19%, 0.84% and 1.89% respectively.

Meanwhile, market activity was upbeat as the value and volume of stocks traded rose by 65.38% and 62.07% to 0.25 billion units and 2.86 billion respectively.

Elsewhere, NIBOR rose for most tenor buckets amid renewed liquidity strain; however, NITTY declined for all maturities amid bullish activity.

In the OTC bonds market, the values of FGN bonds was flattish for most maturities tracked; however, FGN Eurobond tanked for all maturities tracked amid bearish activities.

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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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