Domestic Equities Market Index Declines by 1.27% on Sustained Bearish Activity

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

The Local bourse All Share Index (ASI) dwindled by 1.27% to settle at 22,629.92 points even as the Exchange recorded 27 losers as against 4 gainers at the close of trade. Hence, the year to date loss of the NSE ASI rose to 15.69%.

Market sentiment was negative as investors react to the continuous drop in crude oil prices; hence, Tickers such as GUARANTY, JBERGER, ZENITHBANK, WAPCO, SEPLAT plunged by 7.79%, 4.27%, 7.77%, 9.21% and 0.21% respectively.

Also, the NSE Banking, NSE Insurance, NSE Consumer goods, NSE oil/gas and NSE Industrial indices tanked by 5.75%, 1.45%, 0.10%, 1.25% and 0.88% respectively.

Meanwhile, the volume and value of shares traded declined by 27.53% and 44.74% to 0.25 billion units and 2.3 billion respectively.

Elsewhere, NIBOR declined for all tenor buckets amid sustained liquidity ease; however, NITTY moved in mixed directions.

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

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