Local Bourse Index Rebounds by 0.83% amid Renewed Bullish Activity

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

Following five consecutive days of losses, the bearish sentiment came to a halt as the local bourse All Share Index (ASI) rose by 0.83% to end trading session for the week.

Also, the Exchange printed 14 gainers as against 13 losers. Hence, the year to date loss of the NSE ASI moderated to 7.5%.

We saw investors take advantage of the cheap share prices of large cap stocks such as AIRTELAFRI, NESTLE and ZENITHBANK; hence their respective share prices increased by 9.97%, 1.78% and 0.31%. On the positive side, the NSE Banking, NSE Insurance and NSE Consumer Goods Index rose by 0.64%, 0.04% and 0.96% respectively.

However, the NSE Oil/Gas and NSE Industrial declined by 0.45% and 0.35% respectively.

Meanwhile, the value of stocks traded rose by 32.56% to N2.15billion as N870 million worth of GUARANTY shares exchanged hands.

Elsewhere, NIBOR declined for most tenor buckets amid renewed liquidity ease; however, NITTY rose for most maturities.

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

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