Wednesday, June 23, 2021

    Share Prices Labor to Climb Further as NSE ASI inches higher by 0.07%

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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.

    As NITTY Moves in Mixed Directions…

    Nigeria Stock Exchange All Share Index (ASI) rose marginally by 0.07% as the second week of trading in 2020 came to a close.

    Much of the bullish stocks found it difficult to climb further today, thus leaving the Exchange with higher number of losers than gainers (28:11).

    Similarly, in what appears like a partial profit taking, three of the five sub-sectors closed in red zone.

    NSE Banking, NSE Insurance and NSE Oil/Gas indices fell by 1.04%, 2.62% and 0.11%

    Nevertheless, the year to date gain of the NSE ASI rose to 9.59% from 9.51%. Market activity also slowed as the total volume and value of stocks traded declined by 59.47% and 35.32% to 0.28 billion units and N4.82 billion respectively.

    Elsewhere, NITTY moved in different directions across maturities tracked; however, NIBOR fell for most tenor buckets amid renewed financial liquidity ease. In the bonds market, the values of OTC FGN bonds
    moved in mixed directions across maturities tracked.

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