Lagos Bourse Advances by 1.63% Amid Sustained Bargain Hunting Activity

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NIBOR Declines for Most Tenor Buckets amid Renewed Liquidity Ease……

Nigeria’s domestic equities market sustained its bullish momentum as the All Share Index (ASI) advanced by 1.63% to settle at 22,921.59 points even as the Exchange recorded 19 gainers as against 9 losers.

Consequently, the year to date loss of the NSE ASI moderated to 14.60%.

Investors’ interest in Tickers such as NESTLE, NB, BUACEMENT, LINKASSURE and ZENITHBANK lifted their respective share prices northwards by 5.89%, 9.85%, 8.33%, 8.70% and 4.53%.

Also, the NSE Banking, NSE Insurance, NSE Consumer goods and NSE Industrial appreciated by 2.30%, 0.41%, 4.40% and 4.35% respectively.

Meanwhile, the volume and value of shares traded declined by 38.91% and 39.67% to 0.23 billion units and 2.6 billion respectively.

Elsewhere, NIBOR and NITTY declined for most tenor buckets amid renewed liquidity ease.

In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; also, FGN Eurobond declined for all maturities tracked amid bearish activity.

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