Sunday, July 25, 2021

    Equities Market Index Contracts by 0.08% on Oil & Stocks

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    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.

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