NSE ASI Rises Marginally by 0.25% as the Rally in Crude Oil Prices Slows…

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In the just concluded week, the Lagos bourse revved, howbeit mildly, to close in green territory as rally in crude oil prices marke slowed.

Hence, the domestic bourse rose
marginally by 0.25% week-on-week, resulting in increase of the NSE ASI to 25,267.82 points.

Amid the sustained bullish activity, most of the sub-sector gauges closed in positive zone.

Particularly, the NSE Insurance index rose by 3.74% to 131.81 points, followed by the NSE Industrial index, NSE Consumer Goods index, and NSE Banking index which rose by 3.08%, 2.34% and 0.44% to 1,204.70 points, 424.96 points and 304.11 points respectively.

However, the NSE Oil/Gas index moderated by 0.34% to 228.30 points.

Elsewhere, market activity was weak as the market observed only three trading sessions due to the public holidays.

Total deals, transaction volumes and Naira votes plunged by 21.70%, 26.51% and 27.85% to 20,554 deals, 1.26 billion shares and N13.50 billion respectively.

In the new week, we expect OTC bond prices to appreciate (and yields to moderate) against the backdrop of expected boost in financial system.

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