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.