Domestic Equities Market Index Rises Further by 0.10% on Oil/Gas, Consumer Goods Stocks

Date:

As NITTY Closes Flat across All Maturities…

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The Lagos bourse All Share Index (ASI) revved by 0.10% amid sustained bargain hunting activity even as the Exchange printed 23 gainers as against 20 losers.

At the close of trade today, the oil & gas and consumer goods stocks were the toast of investors as shares of MOBIL, GUINNESS and CADBURY were picked up at higher prices.

Hence, the NSE Oil/Gas and the NSE Consumer Goods rose by 2.77% and 0.61% respectively.

Similarly, the NSE Insurance and the NSE Banking increased by 0.97% and 0.02% respectively while the NSE Industrial index was flattish.

Given the bullish activity, the year to date gain of the NSE ASI rose to 29.66%.

Meanwhile, market activity was weak as the deals, total volume and value of stocks traded moderated by 23.08%, 40.78% and 48.94% to 5,407, 0.23 billion units and N3.53 billion respectively.

Elsewhere, NIBOR moderated for most tenor buckets amid sustained liquidity ease, especially the longer end of the tenor; however, NITTY closed flat for all maturities despite declining rates at the primary market.

In the OTC bonds market, the values of FGN bonds fell for most maturities tracked amid renewed bearish activity; also, FGN Eurobond moderated for all maturities tracked.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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