As NIBOR Rises for all Tenor Buckets amid Sustained Liquidity Strain…
The local bourse closed the week in negative territory as the All-Share Index moderated by 0.08% to 39,331.61 points even as the bears outnumbered the bulls (27 losers against 20 gainers).
Consequently, the year-to-date loss of the NSE ASI exacerbated to -2.3%.
Specifically, the NSE Oil/Gas sectored index suffered the most hit, moderating by 5.31% as the share price of bellwether stock such as SEPLAT dwindled by 7.39%.
Also, share prices of Oando and Guaranty fell by 8.62% and 1.59% respectively. Similarly, the NSE Banking and the NSE Oil/Index indices waned by 0.53% and 0.16% respectively.
On the positive side, the NSE Insurance and the NSE Industrial indices rose by 0.78% and 0.55% respectively.
Meanwhile, market turnover ballooned by 188.31% to N13.61 billion as N10.05 billion worth of SEPLAT shares exchanged hands today.
Elsewhere, NIBOR rose for all tenor buckets amid sustained liquidity strain; however, NITTY fell for most maturities tracked.
In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities tracked; albeit, the value of FGN Eurobond fell for all maturities tracked.