Nigerian Bourse All Share Index Falls by 0.16% amid Sustained Bearish Activity

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

The local bourse closed the week southwards as its All Share Index (ASI) declined marginally by 0.16% amid sustained profit taking activity.

Also, the number of losers (27) outweighed the number of gainers (9) at the close of the trading session.

Hence, the year to date loss of the NSE ASI rose to 9.33%.

Sentiment remained negative in the market as sell pressure on NB, JBERGER, UACN and ACCESS suppressed their respective share prices by 5.68%, 7.56%, 10% and 2.31%.

Similarly, most of the sub-sector gauges closed negative, save the NSE Banking index which rose by 0.32%.

The NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and the NSE Industrial indices tanked by 0.61%, 1.07%, 0.13% and 0.04% respectively.

Meanwhile, the volume and value of stocks traded dipped by 19.88% and 17.59% to 0.14 billion units and N1.5 billion respectively.

Elsewhere, NIBOR and NITTY declined for most tenor buckets amid sustained liquidity ease.

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

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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