Lagos Bourse Sheds 111bps amid Bearish Streak; NIBOR, NITTY Plummet on Liquidity Ease…


The NSE ASI waned by 1.11% amid sustained profit taking activities even as the Bourse recorded 23 losers as against only eight gainers at the close of business today.

Hence, the year-to-date loss of local stocks further worsened to 16.06% from 15.11%. Bellwethers such as NESTLE, DANGCEM, MTNN and FBNH dwindled by 3.70%, 1.41%, 1.69% and 1.56% respectively.

Meanwhile, market activity was upbeat as total volume of transactions swelled by 1.87% to 196.29 million shares while total value of equities traded increased marginally by 0.10% to N3.55 billion.

Elsewhere, NIBOR declined for most tenure bucket amid renewed liquidity ease; also, NITTY dipped across maturities tracked on sustained bullish activities.

In the bonds market, the values of OTC FGN papers appreciated for most maturities tracked on sustained demand pressure; similarly, FGN Eurobond prices rose for most maturities tracked on bullish activities in the international debt market.

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