Tuesday, July 27, 2021

    Domestic Equities Market Index Sheds 22 basis point.amid Sustained Bearish Activity

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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 Falls for most Tenor Buckets amid Renewed Liquidity Ease…

    The local bourse resumed the week in negative territory as its All Share Index (ASI) moderated by 0.22% to 38,561.84 point even as the bears (18) outnumbered the bulls (17).

    Hence, the year-to-date loss of the NSE ASI further rose to -4.24%. Notably, the NSE Banking and the Consumer Goods indices moderated by 1.01% and 1.52% buoyed by sell-offs in Tickers such as GUARANTY, ZENITHBANK, NB, and DANGSUGAR.

    Hence, their respective share prices declined by 2.60%, 0.70%, 5.34% and 2.23%. On the positive side, the NSE Insurance and the NSE Oil/Gas indices rose by 1.08% and 0.66% respectively while the NSE Industrial index closed flat.

    Meanwhile, trading activity mellowed as total deals, volume and value of stocks traded fell by 6.20%, 37.23% and 33.22% to 3,527 deals, 0.18 billion units and N2.5 billion respectively.

    Elsewhere, NIBOR fell for most tenor buckets amid renewed liquidity ease; also, NITTY moderated for most maturities tracked.

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

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