As NIBOR Moves in Mixed Directions Across Maturities….
The Local Bourse All Share Index (ASI) rose by 1.25% amid sustained bullish activity even as the Exchange recorded 29 gainers as against 9 losers at the close of trade.
Consequently, the year to date loss of the NSE ASI moderated to 7.76%.
Specifically, share prices of Tickers such as ZENITHBANK, UNILEVER, BUACEMENT and UACN appreciated by 3.03%, 9.30%, 9.88% and 9.95% respectively.
The NSE Industrial increased the most, as the sub- gauge rose by 5.72%, while the NSE Banking, NSE Insurance, NSE Consumer goods and NSE Oil/Gas indices rose by 3.49%, 0.97%, 0.38% and 1.44% respectively.
Meanwhile, market activity waned as the volume and value of shares traded declined by 17.90% and 29.74% to 0.35 billion units and 3.7 billion.
Elsewhere, NIBOR moved in mixed directions across tenor buckets; however, NITTY declined for most maturities tracked amid buy pressure.
In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; also, FGN Eurobond rose for most maturities tracked.