DANGCEM, MTNN, GUARANTY Stock rise as Lagos Bourse Rises by 0.27% amid Sustained Bullish Activity

Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Tuesday, April 2, 2019. The International Monetary Fund said Nigerias economy was growing too slowly to reduce poverty or joblessness and urged the government to boost revenue and scrap its system of multiple exchange rates. Photographer: Ruth McDowell/Bloomberg via Getty Images

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

The Local Bourse All Share Index (ASI) rose marginally by 0.27% amid sustained bargain hunting activity even as the Exchange recorded 20 gainers as against 18 losers at the close of trade.

Hence, the year to date loss of the NSE ASI moderated to 5.43%. Tickers such as DANGCEM, MTNN, GUARANTY rose by 1.44%, 0.43% and 2.44% respectively.

Two of the five sub-sectors increased: the NSE Insurance and NSE Industrial indices rose by 0.44% and 0.20% respectively.

However, the NSE Banking and NSE Consumer goods lowered by 0.09% and 0.13% respectively.

Meanwhile, market activity was upbeat as the value of stocks traded rose by 128.87% to N6.04 billion, amid N2.2 billion and N1 billion worth of NB and DANGCEM shares which exchanged hands today.

Elsewhere, NIBOR declined for most tenor buckets amid sustained liquidity ease; however, NITTY rose for most maturities tracked.

In the OTC bonds market, the values of FGN bonds rose for most maturities tracked; also, FGN Eurobond rose for most maturities tracked.

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