As NIBOR Rises for Most Tenor Buckets amid Sustained Liquidity Squeeze…
The Local Bourse All Share Index (ASI) rose by 0.19% amid sustained bargain hunting activity even as the Exchange recorded 28 gainers as against 10 losers at the close of trade.
Hence, the year to date loss of the NSE ASI moderated to 5.68%.
Specifically, tickers such as GUARANTY, ZENITHBANK, DANGSUGAR, NB and BUACEMENT appreciated by 2.29%, 0.89%, 9.69%, 1.62% and 0.71% respectively hence, lifting the NSE Banking, NSE Consumer Goods and NSE Industrial indices by 1.28%, 1.13% and 0.54%.
Meanwhile, market activity was weak as the volume and value of stocks traded tanked by 22.21% and 40.87% to 0.25 billion units and N2.64 billion.
Elsewhere, NIBOR rose for most tenor buckets amid sustained liquidity squeeze; however, NITTY declined for most maturities tracked amid buy pressure.
In the OTC bonds market, the values of FGN bonds rose for most maturities tracked; however, FGN Eurobond rose for most maturities tracked amid renewed bullish activity.