As NIBOR Falls for most Tenor Buckets amid Sustained Liquidity Ease…
At the end of Tuesday’s trade, the local bourse index rebounded by 0.41% to close at 38,720.81 points amid renewed bargain hunting activity; albeit the number of losers (20) outweighed that of the gainers (11).
Hence, the year-to-date loss of the NSE ASI moderated to -3.84%.
Notably, the rebound was driven by positive sentiment in blue chip stocks such as DANGCEM, MTNN and GUINNESS which soared by 3.55%, 1.20% and 10% respectively.
Sectorial performance was mixed as only two out of five indices tracked closed northwards; others moved in different directions.
The NSE Consumer Goods and the NSE Industrial indices rose by 0.23% and 1.70% respectively while the NSE Banking and the NSE Insurance indices fell by 3.51% and 1.07% respectively.
However, the NSE Oil/Gas Index closed flat. Meanwhile, trading activity was positive as total deals, volume and value of stocks traded rose by 18.85%, 19.69% and 67.05% to 4,192 deals, 0.20billion units and N4.2 billion respectively.
Elsewhere, NIBOR fell for most tenor buckets amid sustained liquidity ease; however, NITTY rose for all maturities tracked.
In the OTC bonds market, the values of FGN bonds moderated for most maturities tracked; albeit, the value of FGN MPR: 11.50% Eurobond rose for most maturities tracked.