GTBank, other Banking stocks spike Domestic Equities Market Rebounds by 0.06% on Renewed Bullish Activity

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

The Local Bourse All Share Index (ASI) rose marginally by 0.06% amid renewed bargain taking activity even as the Exchange recorded 20 gainers as against 8 losers.

Hence, the year to date loss of the NSE ASI moderated to 11.67%.

Particularly, we saw share prices of Counters such as GUARANTY, MANSARD, UNILEVER, MOBIL and TOTAL rise by 2.14%, 8.23%, 9.96%, 9.94% and 6.75% respectively to partly lift the NSE Banking, NSE Insurance, NSE Consumer goods and NSE Industrial indices by 0.63%, 1.92%, 0.39% and 2.66%.

Elsewhere, NIBOR declined for all tenor buckets amid renewed liquidity ease; however, NITTY rose for most maturities tracked on sell pressure as stop rates in the primary market closed higher by 2.55% and 2.85% for the 91 days and 182 days. However, stop rates for 365 days remained flat.

In the OTC bonds market, the values of FGN bonds were flattish for all maturities tracked; however, FGN Eurobond declined for most maturities tracked on renewed bearish activity.

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