Local Equities Index Rebounds by 0.17% amid Renewed Bullish Activity

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As NIBOR Declines for Most Tenor Buckets amid Renewed Liquidity Ease……

The Local Bourse All Share Index (ASI) rose by 0.17% amid renewed bargain hunting activity; albeit, the number of losers (24) outweighed the gainers (10) at the close of trading session.

Hence, the year to date loss of the NSE ASI moderated to 6.96%.

Amid Investors’ interest in Counters such as FLOURMILL, NESTLE and ZENITHBANK, their respective share prices rose by 10%, 4.35% and 0.31%.

However, most sub-sector performance didn’t mirror the market performance as only the NSE Consumer goods index rose by 4.19%.

The NSE Banking, NSE Insurance and NSE Oil/Gas tanked by 0.79%, 2.95% and 4.37% respectively.

Elsewhere, NIBOR declined for most tenor buckets amid renewed liquidity ease; however, NITTY was flattish for all maturities despite the declining stop rates at the primary market today.

Stop rates for 91-day, 182-day and 364-day fell to 1.8%, 2.04% and 3.746% amid demand pressure.

In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; however, FGN Eurobond rose for most maturities tracked.

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