Domestic Equities Market Index Rebounds by 0.66% on Renewed Bullish Activity


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

The Local bourse All Share Index (ASI) appreciated by 0.66% to close at 22,780.30 points on renewed bargain hunting activity even as the Exchange recorded 19 gainers as against 4 losers at the close of trade.

Hence, the year to date loss of the NSE ASI moderated to 15.13%.

Similarly, most of the sub-sector gauges closed in positive territory as BUACEMENT, WAPCO, ZENITHBANK and GUARANTY appreciated by 0.87%, 9.66%, 5.36% and 1.36%.

Hence, NSE Industrial, NSE Insurance and NSE Banking rose by 1.38%, 2.01% and 2.76% respectively.

Meanwhile, the volume and value of shares traded declined by 25.61% and 20.32% to 0.18 billion units and 1.8 billion respectively.

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

In the OTC bonds market, the values of FGN bonds were flattish for all maturities tracked; also, FGN Eurobond declined for all maturities tracked amid declining global crude oil prices.

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