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.