Nigeria Stocks Gains 0.75% amid Sustained Bullish Activity, But NIBOR Declines

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Domestic Bourse Index Rises by 0.75% amid Sustained Bullish Activity; NIBOR Declines for Most Tenor Buckets amid Renewed Liquidity Ease……
At the close of Wednesday’s trade, the Lagos bourse All Share Index (ASI) increased by 0.75% to 24,278.07 points amid sustained bargain hunting activity.

Hence, the year to date loss of the NSE ASI eased to 9.55%. Specifically, the Exchange printed 25 gainers as against 8 losers with three of the five indices tracked closing northwards.

The NSE Banking, NSE Insurance and NSE Industrial rose by 3.41%, 1.10% and 0.12% respectively buoyed by price appreciation in Tickers such as GUARANTY, AIICO and JBERGER by 6.89%, 1.11% and 9.90% respectively.

On the flip side, the NSE Consumer Goods and NSE Oil/Gas fell lower by 0.21% and 0.18% respectively.

Meanwhile, MTN traded flat today despite the N3.2 billion worth of shares that exchanged hands today, hence the volume and value of stocks traded surged by 49.56% and 80.65% respectively.

Elsewhere, NIBOR declined for most tenor buckets amid renewed liquidity ease; also, NITTY declined 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

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