Nigerian stocks Index up 1.25% amid Sustained Bullish Activity..

Date:

As NIBOR Falls for all Tenor Buckets amid Renewed Liquidity Ease.

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The local Bourse All Share Index (ASI) rose by 1.25% to close at 34,769 points amid sustained bargain hunting activity even as the Exchange recorded 37 gainers as against 11 losers at the close of trading session.

Hence, the year to date gain of the NSE ASI climbed to 29.53%. Specifically, blue-chip stocks such as AIRTELAFRI, DANGCEM, WAPCO, GUARANTY and ZENITHBANK were the toast of investors today; hence their share prices appreciated by 1.90%, 2.60%, 3.37%, 1.17% and 1.66% respectively.

Sectorial Performance was positive as four out of the five indices tracked closed in green; the NSE Banking, NSE Insurance, NSE Consumer Goods and NSE Industrial indices rose by 1.59%, 1.38%, 0.74% and 1.58% respectively.

On the flip side, the NSE Oil/Gas index fell by 0.56%. Meanwhile, market activity was upbeat as the total volume and value of stocks traded rose by 19.02% and 47.35% to 0.43 billion units and N6.9 billion.

Elsewhere, NIBOR moderated for all tenor buckets amid renewed liquidity ease; however, NITTY was flattish for most tenor bucket.

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

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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