Tuesday, October 26, 2021

    Local Equities Index Gains by 0.14% amid Sustained B.ullish Activity

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    As NIBOR Falls for all Tenor Buckets amid Sustained Liquidity Ease…

    At the end of Wednesday’s trade, the local bourse index advanced by 0.14% to 40,221.30 points amid sustained bargain hunting activity; albeit the Exchange printed equal number (20 apiece) of losers and gainers.

    Hence, the year-to-date loss of the NSE ASI moderated to -0.12%.

    Notably, we observed that investors were bullish on other tier 1 banking stocks amid hope that they would increase their dividend payout too as exhibited by ZENITHBANK yesterday.

    Hence, share prices of GUARANTY, FBNH, ACCESS, UBA and ZENITHBANK advanced by 0.98%, 1.37%, 1.80%, 0.59% and 1.15% respectively.

    Also, share price of WAPCO rose by 3.48%. Of the five indices tracked, three closed in green zone; the NSE Banking, NSE Oil/Gas and NSE Industrial indices increased by 077%, 0.79% and 0.22% respectively.

    However, the NSE Insurance and NSE Consumer Goods indices fell by 1.87% and 0.32% respectively.

    Meanwhile, trading activity was upbeat as total deals, volume and value of stocks traded rose by 4.55%, 38.94% and 84.15% to 5,470 deals, 0.46 billion units and N7.0 respectively.

    Elsewhere, NIBOR fell for all tenor buckets amid sustained liquidity ease; however, NITTY moved in mixed directions across maturities tracked.

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

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