As NIBOR Declines for Most Tenor Buckets amid Renewed Liquidity Ease……
Following five consecutive days of losses, the bearish sentiment came to a halt as the local bourse All Share Index (ASI) rose by 0.83% to end trading session for the week.
Also, the Exchange printed 14 gainers as against 13 losers. Hence, the year to date loss of the NSE ASI moderated to 7.5%.
We saw investors take advantage of the cheap share prices of large cap stocks such as AIRTELAFRI, NESTLE and ZENITHBANK; hence their respective share prices increased by 9.97%, 1.78% and 0.31%. On the positive side, the NSE Banking, NSE Insurance and NSE Consumer Goods Index rose by 0.64%, 0.04% and 0.96% respectively.
However, the NSE Oil/Gas and NSE Industrial declined by 0.45% and 0.35% respectively.
Meanwhile, the value of stocks traded rose by 32.56% to N2.15billion as N870 million worth of GUARANTY shares exchanged hands.
Elsewhere, NIBOR declined for most tenor buckets amid renewed liquidity ease; however, NITTY rose for most maturities.
In the OTC bonds market, the values of FGN bonds rose for most maturities tracked; also, FGN Eurobond rose for most maturities tracked.