; NIBOR Rises for All Tenor Buckets amid Sustained Liquidity Strain……
Thank you for reading this post, don't forget to subscribe!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.