Wednesday, January 19, 2022

    AIRTELAFRI, BUACEMENT and ZENITHBANK gains as NSE Index Rebounds by 0.30%

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    Godwin Okafor
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    ; NIBOR Rises for All Tenor Buckets amid Sustained Liquidity Strain……

    Large cap stocks such as AIRTELAFRI, BUACEMENT and ZENITHBANK rose by 3.66%, 2.51% and 1.87% respectively as investors took advantage of cheap prices.

    As Lagos stock exchange All Share Index (ASI) rose by 0.30% amid renewed bargain hunting activity; albeit, the Exchange printed 17 gainers as against 18 gainers at the close of the trading session.

    Consequently, the year to date loss of the NSE ASI moderated to 10.22%.

    However, sub-sector performances didn’t mirror market performance as three indices out of five we track closed southwards: the NSE Insurance, NSE Consumer Goods and NSE Oil/Gas indices declined by 1.92%, 0.52% and 0.02% respectively.

    The NSE banking and NSE Industrial index rose by 0.92% and 0.09%t Meanwhile, the value of stocks traded dipped by 6.61% to N2.6 trillion despite the N1.1 trillion of MTN shares that exchanged hands today.

    Elsewhere, NIBOR rose for all tenor buckets amid sustained liquidity strain; also, NITTY rose for most maturities.

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

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