Equities Market Index Moderates by 0.40% amid Sust.ained Bearish Activity

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AsNIBOR Rises for most Tenor Buckets amid Sustained Liquidity Strain…

The local bourse sustained its bearish momentum as the All-Share Index moderated by 0.40% to 39,364.67 points; hence, the year-to-date loss of the NSE ASI worsened to -2.2%.

Also, the Exchange printed 47 losers as against 12 gainers amid selloffs witnessed across medium and large caps.

Specifically, we saw share prices of PRESCO, NB, ARDOVA, ACCESS and GUARANTY decline by 5.87%, 3.85%, 9.85%, 3.11% and 0.63% respectively.

Performance remained weak across sub-sector gauges as all the indices tracked closed southwards; the NSE Banking, NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices fell by 1.54%, 4.04%, 1.47% and 0.65% respectively.

On the positive side, the NSE Industrial index rose by 0.19%.

Meanwhile, trading activity was upbeat as total deals, volume and value of stocks traded rose by 16.38%, 101.84% and 14.40% to 5,486 deal, 0.49 billion units and N4.7 billion respectively.

Elsewhere, NIBOR rose for most tenor buckets amid sustained liquidity strain; also, NITTY rose for most maturities tracked.

In the OTC bonds market, the values of FGN bonds were flattish for all maturities tracked; albeit, the value of FGN Eurobond fell for all maturities tracked.

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