Lagos Bourse Rises by 0.10% amid Sustained Bargain Hunting Activity

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As NIBOR Moves in Mixed Directions Across Tenor Buckets ……

The Local Bourse All Share Index (ASI) rose marginally by 0.10% amid sustained bullish activity despite the Exchange printing 18 gainers as against 19 losers at the close of trade. Hence, the year to date loss of the NSE ASI moderated to 5.34%.

Sentiment remains positive in the market as buying interest in Tickers such as PRESCO, MTNN, STANBIC, AIICO and SKYAVN lifted their respective prices northwards by 9.04%, 1.29% 2.15%, 4.55% and 9.66%.

However, performance across sub-sector gauges tracked was mixed; while the NSE Insurance index rose by 0.05%, the NSE Banking, NSE Consumer Goods and NSE industrial dipped by 0.58%, 0.38% and 0.16% respectively.

The NSE Oil/gas closed flat. Meanwhile, the volume of stocks traded dipped by 6.50% to 0.35 billion units while the value of stocks traded rose by 16.12% to N7.03 billion.

Elsewhere, NIBOR moved in mixed directions across tenor buckets; however, NITTY declined for all maturities tracked amid buy pressure.

In the OTC bonds market, the values of FGN bonds moderated for most maturities tracked; also, FGN Eurobond rose for most maturities tracked.

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