Wednesday, December 1, 2021

    Bears Maintains Grip as Domestic Bourse Falls by 0.07.%;

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

    The equities market dipped by 0.07% to close at 40,465.32 points amid sustained profit taking activity even as the Exchange recorded more losers (22) than gainers (18) at the close of Wednesday’s trading session.

    Hence, the year-to-date gain of the NSE ASI shrank to 0.48%.

    Specifically, we saw investors sell part of their holdings in tickers such as BUACEMENT, ACCESS, GUNNESS and UBA to book profit; hence their respective share prices declined by 1.77%, 1.78%, 3.41% and 0.59% respectively.

    Performance across sub-sector gauges tracked was weak as three out of the five indices tracked closed in red; the NSE Banking, NSE Consumer goods and NSE Industrial indices moderated by 0.24%, 0.07% and 0.80% respectively.

    On the positive side, the NSE Insurance and the NSE Oil/Gas indices advanced by 1.02% and 0.20% respectively.

    Meanwhile, trading activity mellowed as total deals, volume and value of stocks traded fell by 18.99%, 31.49% and 53.95% to 4,083 deals, 0.24 billion units and N2.6 respectively.

    Elsewhere, NIBOR fell for most tenor buckets amid renewed liquidity ease; albeit, NITTY rose for most maturities tracked.

    In the OTC bonds market, the values of plain vanilla FGN bonds moderated for most maturities tracked; also, the value of FGN Eurobond fell for most maturities tracked.

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