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    Domestic Equities Market Index Falls by 0.60% amid .Renewed Bearish Activity

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

    The local bourse index tanked by 0.60% to 38,697.17 points amid renewed profit taking activity despite the Exchange printing 25 gainers as against 11 losers at the end of Thursday’s trading session.

    Similarly, we saw the NSE Industrial index dip by 1.70% as the share price of heavy weight stock, DANGCEM moderated by 3.51%. Consequently, the year-to-date loss of the NSE ASI further rose to -3.90%.

    On the positive side, the NSE Banking, NSE Insurance and the NSE Consumer Goods indices rose by 0.01%, 0.69% and 0.42% respectively while the NSE Oil/Gas Index closed flat.

    Meanwhile, trading activity was weak as total deals, volume and value of stocks traded fell by 19.59%, 54.01% and 56.83% to 3,568 deals, 0.16 billion units and N2.1 billion respectively.

    Elsewhere, NIBOR fell for most tenor buckets amid sustained liquidity ease; however, NITTY rose for most maturities tracked as stop rates for 364-day bills rose to 6.5% from 5.5% in the primary market; albeit, stop rates for the 90-day and 181-day closed flat.

    In the OTC bonds market, the values of FGN bonds fell for most maturities tracked; albeit, the value of FGN Eurobond increased for most maturities tracked.

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