Bears knocks down Bulls as Nigeria’s Bourse Index Falls by 0.01%

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

The Lagos bourse closed in negative territory as its All Share Index (ASI) fell by 0.01% at the close of trade today.

Also, the Exchange printed 15 losers as against 10 gainers amid renewed profit taking activity.

Hence, the year to date loss of the NSE ASI rose to 9.56%. Specifically, Tickers such CONOIL. INTBREW and DANGSUGAR dipped by 10%, 8.86% and 0.86% hence, the NSE Oil/Gas and NSE Consumer Goods indices dwindled by 0.64% and 0.44% respectively.

On the Positive side, the NSE Banking, NSE Insurance and NSE Industrial indices rose by 0.60%, 0.64% and 0.02% respectively.

Meanwhile, market activity was weak as the volume and value of stocks traded plummeted by 17.42% and 47.43% to 0.19 billion units and N2.4 billion respectively.

Elsewhere, NIBOR rose for most tenor buckets amid renewed liquidity strain; however, NITTY declined 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 tracked.

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