Bulls Maintains Grip as the Domestic Bourse Index Rises by 0.11%

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As NIBOR Increases for most Tenor Buckets amid Renewed Liquidity Strain…

At the close of Wednesday’s trade, the local equities market closed higher by 0.11% to 40,341.05 points as investors continue to hunt for bargains in the market.

Consequently, the year-to-date gain of the NSE ASI advanced to 0.17% even as the Exchange printed more gainers (32) than losers (16).

Specifically, sentiment remain positive in the market amid investors demand for blue-chip stocks such as SEPLAT, WAPCO, FLOURMILL and ZENITHBANK.

Hence, their respective share prices rose by 0.08%, 1.35%, 6.93% and 0.39% respectively.

Sectorial performance was positive as three out of the five indices tracked closed in green; the NSE Insurance, NSE Consumer Goods and NSE Industrial indices rose by 3.61%, 0.36% and 0.99% respectively.

However, the NSE Banking and NSE Oil/Gas indices fell by 0.62% and 0.05% respectively.

Meanwhile, activity in the market waned as total volume and value of stocks traded declined by 59.86% and 12.63% to 0.46 billion units and N6.9 billion respectively.

Elsewhere, NIBOR and NITTY rose for most tenor bucket amid renewed liquidity strain.

In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities tracked; also, the value of FGN Eurobond rose for all maturities

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