As NIBOR Moves in Mixed Directions Across Maturities…
The NGX All-Share Index rebounded by 0.58% to close at 44,655.89 points amid renewed bargain hunting activity.
Also, the Exchange printed 27 gainers as
Market Indices and Corporate Bond Market Insight against 13 losers, indicating a robust positive sentiment.
Hence, the year-to-date gain of the local bourse rose to 4.54%. Notably, SKYAVN, COURTVILLE, Capitalization (Current).xlsYxield.xlsx Tables (Current).xlsx FTNCOCOA, DANGSUGAR and BERGER were the toast of investors today as their respective share prices rose by. 10%, 8.57%, 8.33%, 7.35% and 5.84%.
Tomorrow, we expect DANGCEM shares to appreciate as the company commences its share buy-back programme. Performance across sub-indices was largely positive, except for the NGX Insurance Index which fell by 1.61%.
The NGX Banking Index, NGX Consumer Goods Index, NGX Oil/Gas Index and the NGX Industrial Index rose by 0.98%, 0.69%, 0.25% and 0.79% respectively.
Meanwhile, market activity was weak as the value of stocks traded today plunged by 28.65% to N1.92 billion despite the increasing volume of trades recorded today – it increased by 9.76% to 235.23 million.
Elsewhere, NIBOR moved in mixed directions across maturities tracked.
Meanwhile, NITTY rose for most maturities tracked on sustained sell pressure.
In the OTC bonds market, the values of the FGN bonds moved in mixed directions.
On the flip side, the values of FGN Eurobond depreciated for most maturities tracked amid sustained bearish sentiment.