Lagos Bourse Declines by 0.13% amid Sustained Bearish Activity

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; NIBOR Declines for All Tenor Buckets amid Liquidity Ease……

The Local Bourse closed the week on a negative note as its All Share Index (ASI) moderated by 0.13% amid renewed profit taking activity even as the exchange printed 17 losers as against 16 gainers at the close of trade.

Given the sell pressure on Tickers such as GUARANTY, NB, OANDO and JBERGER, their respective prices tanked by 0.83%, 1.18%, 7.14% and 6.59%.

Hence, the NSE Banking, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices dipped by 0.28%, 0.24%, 0.81% and 0.19% respectively.

Consequently, the year to date loss of the NSE worsened to 6.18%. However, market activity was upbeat as the volume and value of stocks traded rose by 29.39% and 8.54% to 0.33 billion units and N3.4 billion respectively.

Elsewhere, NIBOR declined for all tenor buckets amid liquidity ease; also, NITTY declined for most maturities amid demand pressure as stop rates closed lower at yesterday’s primary auction.

In the OTC bonds market, the values of FGN bonds moderated for most maturities tracked; also, FGN Eurobond declined for most maturities tracked on renewed bearish activity.

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