Friday, May 14, 2021

Nigerian Equities Market Revs by 0.58% as CCNN leads Chart

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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.

; NIBOR Falls on Renewed Liquidity Ease…

Today, the NSE ASI rose by 0.58% amid bargain hunting activity even as the Exchange recorded 21 gainers against only 13 losers. The across-the-board gains was led by the industrial sector stock, CCNN which gained N2.00, thus, lifting the sector’s index by 3.11%.

Similarly, the Insurance, Banking, Consumer goods and Oil/Gas sector gauges rose by 3.50%, 0.34%, 0.22% and 0.28% respectively. Consequently, the year-to-date loss of the local bourse shrunk to 4.11%.

In the money market, NIBOR fell for all tenor buckets amid renewed financial system liquidity ease; however, NITTY increased for most maturities tracked on renewed bearish sentiment.

In the bond market, value of the FGN long term notes appreciated amid renewed buy pressure in the domestic OTC market as did FGN Eurobonds at the international capital market on renewed bullish activity.

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