MTNN, VITAFOAM,INTBREW share price surge as investors bully on cheap prices but Index up 0.12%

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Declines for Most Tenor Buckets amid Renewed Liquidity Ease…

At the close of trading session, Market Cap added N15.54 billion. even as the local bourse All Share Index (ASI) rose by 0.12% amid renewed bargain hunting activity.

Also, the Exchange printed 13 gainers as against 9 losers to end the trading week.

Hence, the year to date loss of the NSE ASI moderated to 9.44%.

We saw share prices of Counters such as MTNN, VITAFOAM and INTBREW increase by 0.96%, 5.13% and 6.94% as investors took advantage of their cheap prices.

However, performance across the sub-sector gauges tracked was still weak as only the NSE consumer goods index rose by 0.56%.

The NSE Banking and NSE Insurance indices dipped by 0.68% and 0.63% while the NSE Oil/Gas and NSE Industrial indices closed flat.

Meanwhile, the volume and value of stocks traded tanked by 31.47% and 63.58% to 0.13 billion units and N0.89 billion respectively.

Elsewhere, NIBOR moderated for most tenor buckets amid renewed liquidity ease; however, NITTY rose for most maturities.

In the OTC bonds market, the values of FGN bonds were flattish for most maturities; however, FGN Eurobond declined for most maturities

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