Domestic Equities Rebounds by 0.40% amid Renewed Bullish Activity

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Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Tuesday, April 2, 2019. The International Monetary Fund said Nigerias economy was growing too slowly to reduce poverty or joblessness and urged the government to boost revenue and scrap its system of multiple exchange rates. Photographer: Ruth McDowell/Bloomberg via Getty Images

as NIBOR Rises for Most Tenor Buckets amid Renewed Liquidity Squeeze……

The Local Bourse All Share Index (ASI) rose by 0.40% amid renewed bargain hunting activity despite the Exchange printing 20 losers as against 14 gainers at the close of trade.

Hence, the year to date loss of the NSE ASI moderated to 5.86%, We saw the NSE Insurance, NSE Oil/Gas and NSE Industrial indices rise by 3.12%, 0.63% and 4.92% respectively as investors demanded for tickers such as MANSARD, OANDO, DANGCEM, BUACEMENT.

Hence, their respective share prices by 9.73%, 6.06%, 0.36% and 7.69%.

On the flipside, the NSE Banking and NSE Consumer Goods indices dipped by 1.93% and 0.65% respectively.

Elsewhere, NIBOR rose for most tenor buckets amid renewed liquidity squeeze; also, NITTY rose for all maturities tracked.

In the OTC bonds market, the values of FGN bonds rose for most maturities tracked; however, FGN Eurobond declined for most maturities tracked amid renewed bearish activity.

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