DANGCEM, MTN and GUARANTY Gains as All Share Index Climbs 0.85% amid Sustained Bullish Activity

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

The domestic equities market ASI advanced by 0.85% amid sustained bargain hunting activity even as the Exchange recorded 20 gainers as against 8 losers at the close of the trading session.

Thus, the year to date loss of the NSE ASI shrunk to 0.02%. Sentiments remain positive in the market as Bellwethers such as DANGCEM, MTN and GUARANTY appreciated by 2.81%, 1.18% and 3.70% respectively.

Of the five indices tracked, four closed in green except the NSE Consumer Goods Index which fell by 1.66%.

The NSE Banking, NSE Insurance, NSE oil/Gas and NSE Industrial indices rose by 1.93%, 0.31%, 0.05% and 1.40% respectively. Meanwhile, DANGSUGAR listed additional 146,878,241 ordinary shares amid its merger with Savannah Sugar Company Ltd.

Despite the new listing, the total volume and value of stocks traded still declined by 21.87% and 10.80% to 0.32 billion units and N4.0 billion.

Elsewhere, NIBOR rose for most tenor bucket amid sustained liquidity strain; however, NITTY moved in mixed directions for most maturities tracked.

In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; however, FGN rose moderated for all maturities tracked.

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