Local Bourse Index Plunges by 1.53% amid Renewed Bearish Activity


As NIBOR Rises for All Tenor Buckets amid Renewed Liquidity Strain…

At the close of Tuesday’s trading session, the local bourse All Share Index (ASI) Plummeted by 1.53% amid renewed profit taking activity even as the Exchange printed 34 losers as against 10 gainers.

Hence, the year to date loss of the NSE ASI worsened to 8.80%. Specifically, the industrial sector suffered the worst hit as its index nosedived by 7.50%.

Investors took profit on BUACEMENT, DANGCEM and WAPCO hence moderating their respective share prices by 10%, 0.78% and 7.41%. Similarly, the NSE Banking, NSE Insurance and NSE Oil/Gas indices dwindled by 1.32%, 0.04% and 0.43% respectively.

On the Positive side, only the NSE Consumer goods index rose by 0.18%.

Meanwhile, market activity was upbeat as the volume and value of stocks traded rose by 76.83% and 91.89% to 0.28 billion units and N3.13 billion respectively.

Elsewhere, NIBOR rose for all tenor buckets amid renewed liquidity strain; also, NITTY rose for most maturities amid sell 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.

This site uses Akismet to reduce spam. Learn how your comment data is processed.