Shares trading at Nigeria’s Bourse Plunges 0.93% amid Sustained Bearish Activity


As NIBOR Rose for Most Tenor Buckets amid Renewed Liquidity Strain…

Shares trading at Nigeria’s Stock Exchange resumed the week on a negative note as its All Share Index (ASI) declined by 0.93% amid sustained profit taking activity.

Investors at the Lagos Exchange printed 17 losers as against 14 gainers at the close of the trading session.

Consequently, the year to date loss of the NSE ASI hit double digits again as it worsened to 10.18%.

Specifically, with the profit taken on Tickers such as NESTLE, BUACEMENT and ACCESS, their respective share prices fell by 6.51%, 5% and 2.36%.

Similarly, performance across sub-sector gauges tracked was bearish as three of the indices closed southwards: the NSE Consumer goods index led the laggards by 3.18%, followed by NSE Industrial and NSE Oil/Gas indices by 2.35% and 0.04% respectively.

Meanwhile, N1.2 billion worth of GUARANTY shares exchanged hands today lifting the value of stocks traded by 82.91% to N2.7 billion.

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

In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities tracked; however, FGN Eurobond rose for most maturities.

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