Domestic Equities Market Moderates by 0.38% amid Sustained Bearish Activity


As NIBOR Declines for All Tenor Buckets amid Renewed Liquidity Ease…

The bears continue to dominate the market as the local bourse All Share Index (ASI) dwindled by 0.38% even as the number of losers (22) outweighed the number of gainers (17) at the close of trading session.

Consequently, the year to date loss of the NSE ASI worsened to 8.14%. Sentiment remained weak in the market as Tickers such as SEPLAT, GUINESS, GLAXOSMITH and NB moderated by 9.98%, 9.09%, 9.30% and 3.61% respectively.

However, sectorial performance was mixed: the NSE Banking and NSE Insurance index rose by 0.24% and 0.87%; while the NSE Consumer Goods and NSE Oil/Gas Index tanked by 1.63% and 4.11%. The NSE Industrial Index closed flat.

Meanwhile, market activity was upbeat as the volume and value of stocks traded rose by 12.69% and 23.82% to 0.18 billion units and N1.9 billion respectively.

Elsewhere, NIBOR declined for all tenor buckets amid renewed liquidity ease; however, NITTY rose for most maturities amid sell pressure.

In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities tracked; however, FGN Eurobond rose for most maturities tracked.

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