AIRTELAFRI, BUACEMENT and ZENITHBANK gains as NSE Index Rebounds by 0.30%

Date:

; NIBOR Rises for All Tenor Buckets amid Sustained Liquidity Strain……

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Large cap stocks such as AIRTELAFRI, BUACEMENT and ZENITHBANK rose by 3.66%, 2.51% and 1.87% respectively as investors took advantage of cheap prices.

As Lagos stock exchange All Share Index (ASI) rose by 0.30% amid renewed bargain hunting activity; albeit, the Exchange printed 17 gainers as against 18 gainers at the close of the trading session.

Consequently, the year to date loss of the NSE ASI moderated to 10.22%.

However, sub-sector performances didn’t mirror market performance as three indices out of five we track closed southwards: the NSE Insurance, NSE Consumer Goods and NSE Oil/Gas indices declined by 1.92%, 0.52% and 0.02% respectively.

The NSE banking and NSE Industrial index rose by 0.92% and 0.09%t Meanwhile, the value of stocks traded dipped by 6.61% to N2.6 trillion despite the N1.1 trillion of MTN shares that exchanged hands today.

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

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

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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