Local Equities Market Index Rises by 0.83% amid Sustained Bullish Activity

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As NIBOR Falls for most Tenor Buckets amid Renewed Liquidity Ease…

The domestic bourse sustained its northward movement as its All Share Index (ASI) advanced by 0.83% to close at 41,930.73 points.

Also, the Exchange recorded 35 gainers as against 21 losers amid positive investor’s sentiment.

Hence, the year-to-date gain of the NSE ASI increased to 4.12%. Notably, investors continue to position ahead of the earnings release in bellwether stocks such as AIRTELAFRI, MTNN, WAPCO and ZENITHBANK; hence, their respective share
prices gained 1.09%, 2.09%, 7.27% and 0.57%.

Performance was bullish across sub-sector gauges tracked as four out of five indices tracked closed in green;
the NSE Banking, NSE Insurance, NSE Consumer Goods and NSE Industrial rose by 0.31%, 1.54%, 0.21% and 0.52% respectively.

On the flip side, the NSE
Oil/Gas moderated by 0.12%. Meanwhile, activity in the market remained upbeat as total deals, volume and value of stocks traded rose by 13.02%, 16.18%
and 31.55% to 6,770 deals, 0.54 billion units and N7.332 billion respectively.

Elsewhere, NIBOR fell for most tenor bucket amid renewed liquidity ease; albeit,
NITTY moved in mixed directions across maturities tracked.

In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities MPR: 11.50% tracked; however, the value of FGN Eurobond moderated for maturities tracked.

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