Domestic Equities Rev by 0.14% Amid Sustained Bullish Momentum; NIBOR Moves in Heterogeneous Directions…

Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Monday, Oct. 26, 2015. Nigeria plans to create a $25 billion fund with public and private financing to modernize infrastructure and avoid a recession, Vice President Yemi Osinbajo said. Photographer: George Osodi/Bloomberg via Getty Images

The Local bourse rallied by 14bps amid sustained bargain hunting activities, having registered 22 gainers as against 17 losers at the sound of the closing gong.

Hence, the year-to-date loss of the NSE ASI moderated to 12.30% from 12.42%.

Meanwhile, the Nigerian Interbank Offered Rate moved in heterogeneous directions across tenure buckets; while, NITTY rose across maturities tracked amid renewed sell pressure in the secondary T-bills market.

In the bonds market, the prices of OTC FGN debts were flattish across maturities tracked; however, the FGN Eurobond prices rose for most maturities tracked in the international capital market amid sustained buy pressure.

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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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