Bulls knocks out Bears as Nigeria’s equities index gains 0.62% on sustained profit taking

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The NSE All Share Index (ASI) rose by 0.62% to close at 22,868.40 points on sustained bullish activity even as the Exchange printed 14 gainers as against 12 losers at the close of trade.

Consequently, the year to date loss of the NSE ASI moderated to 14.80%.

Share prices of tickers such as MTNN, WAPCO, UACN and GUARANNTY rose by 2.38%, 2.68%, 9.68% and 0.48% respectively.

Similarly, four out of the five indices tracked closed in green territory; NSE banking, NSE consumer goods, NSE oil/gas and NSE Industrial indices advanced by 0.22%, 0.40%, 0.45% and 0.26% respectively.

Elsewhere, NIBOR declined for most tenor buckets amid sustained liquidity ease; however, NITTY moved in mixed directions across maturities despite the declining stop rates in the primary market.

Stop rates for 91days, 182days and 364 days T-bills fell to 1.85%, 2.49% and 3.84% respectively.

In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; however, FGN Eurobond rose for most maturities tracked.

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