Equities Market Index Contracts by 0.13% amid Susta.ined Bearish Activity


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

The domestic bourse continued its negative trend as the All-Share Index (ASI) dipped by 0.13% to close at 41,510.16 points amid profit taking on bellwether stocks.

Hence, the year-to-date gain of the NSE ASI fell to 3.07% even as the Exchange printed equal number (23 apiece) of gainers and losers.

Selling sentiment dominated the market as we saw the share prices of heavy caps stocks such as ZENITHBANK, ACCESS and WAPCO moderate by 0.77%, 1.16% and 0.56% respectively.

A breakdown across sub-sector gauges tracked indicated broad-based losses as all the sub-indices tracked closed southwards: the NSE Banking, the NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices fell by 0.52%, 1.73%, 0.25%, 0.25% and 0.04% respectively.

Meanwhile, activity in the market was mixed as total deals and volume of stocks traded declined by 5.37% and 10.10% to 4,969 deals and 0.30 billion units; however, the value of stocks traded rose by 49.66% to N3.9 respectively.

Elsewhere, NIBOR fell for most tenor buckets 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 fell for all maturities tracked. 47,300 42,500 37,700 32,900 28,100 23,300 18,500

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