Domestic Equities Market Halts Uptrend as ASI Declines by 0.13%; NIBOR


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, NITTY Falls for All Tenor Buckets on Liquidity Boost…

The domestic stock market index moderated by 0.13% to settle at 54,299.76 points following profit-taking activity.

Hence, the year-to-date gain of the NGX ASI fell to 5.95% even as the Exchange printed more losers (27) than gainers (20) at the close of the trading session.

Specifically, we saw profit-taking on FCMB, UACN, GEREGU, and DANGCEM shares as their respective prices fell by 7.82%, 6.12%, 5.71%, and 0.71%.

Notably, the NGX Oil/Gas sub-sector index rose by 0.54%, due to strong corporate earnings from CONOIL (+10.00%) and MRS (+9.82%), but was limited by ARDOVA’s (-4.25%) potential delisting.

Other sub-sector gauges tracked closed in red: the NGX Banking, NGX Insurance, NGX Consumer Goods, and NGX Industrial indices declined by 0.61%, 0.80%, 0.02%, and 0.31%, respectively.

In the broader market, the NGX Premium index rose marginally by 1 bps, however, the NGX-30 index fell by 0.01%.

Meanwhile, trading activity increased, with total deals, volume, and value rising by 0.48%, 4.38%, and 58.84%, respectively, to 4,380 trades, 200.04 million units, and N7.62 billion.

In terms of volume, FCMB was the most active stock, with 27.98 million shares worth N130.02 million changing hands in 132 deals.

Godwin Okafor
Godwin Okafor
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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