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


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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