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Local Bourse Plummets by 0.16% on Sustained Profit Taking

As NIBOR Moves in Mixed Directions…

The NSE ASI slid into the red zone by 0.16% as investors maintained negative sentiment amid profit taking activity ahead of the general elections tomorrow.

Tickers such as NB, CADBURY, FLOURMILL and DANGCEM nosedived by 3.03%, 9.57%, 2.42% and 0.31% respectively despite the local bourse printing 20 gainers as against 17 losers by close of trade.

Consequently, the Consumer Goods and Industrial sectorial Indices moderated by 0.81% and 0.16% respectively. Similarly, the total volume of traded equities decreased marginally by 0.38% to 221.47 million units Hence, the year-to-date stood at 3.45%. However, the total value remained unchanged at N2.4 billion.

Elsewhere, NIBOR moved in mixed directions across tenure buckets while NITTY decreased across board for all maturities tracked.

In the bond market, value of the OTC FGN long term papers rose for most maturities tracked.

Naija247news, Nigeria
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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