Local Bourse Index Closes Lower by 0.13% on Renewed Profit Taking Activity


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

At the close of Friday’s trade, the Nigerian Equities market All Share Index (ASI) dwindled by 0.13% to close at 21,094.62 points amid renewed bearish activity despite the Exchange recording 13 losers against 15 gainers.

Consequently, the year to date loss of the NSE ASI rose to 21.41%. Specifically, big cap stocks such as MTNN and DANGCEM shrunk by 2.65% and 0.86% respectively.

Of the five sub-sectored gauges, three closed in red: NSE Insurance, NSE consumer goods and NSE Industrial dipped by 0.61%, 0.41% and 0.89% respectively.

However, NSE banking and NSE oil/gas rose by 3.70% and 0.54% respectively.

Meanwhile, the volume of stocks traded dipped by 7.94% to 0.23 billion units, while the value of stocks traded rose by 3.97% to 2.97 billion respectively.

Elsewhere, NIBOR and NITTY declined for all tenor buckets amid renewed liquidity ease.

In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities; however, FGN Eurobond rose for all maturities tracked amid bullish activities.

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