Thursday, July 29, 2021

    Domestic Equities Market Index Contracts by 0.13% o.n Blue-chip 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.

    ; NIBOR Closes Flat for all Tenor Buckets…

    The local bourse index closed the week southwards by 0.13% to 38,648.48 points as high caps shed weight amid negative investor’s sentiment.

    Hence, the year-to-date loss of the NSE ASI worsened to -4.02% even as the bears (23) outnumbered the bulls (17).

    Specifically, blue-chip stocks such as MTNN, WAPCO, GUARANTY and ZENITHBANK moderated by 1.25%, 0.23%, 0.65% and 0.47% respectively amid sustained investor’s sell-offs.

    Performance across sub-sector gauges was weak as three out of the five indices tracked closed in red zone; the NSE Banking, NSE Oil/Gas and the NSE Industrial indices waned by 0.09%, 0.23% and 0.01% respectively.

    On the positive side, the NSE Insurance and the NSE Consumer Goods indices rose by 1.32% and 1.09% respectively.

    Meanwhile, trading activity picked up as total deals, volume and value of stocks traded rose by 5.38%, 73.58% and 77.84% to 3,760 deals, 0.29 billion units and N3.7 billion respectively.

    Elsewhere, NIBOR closed flat for all tenor buckets; however, NITTY rose for most maturities tracked amid bearish activity.

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

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