Sunday, July 25, 2021

    Nigerian Equities Market Index Rebounds by 0.41%

    Must read

    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 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.

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    WP to LinkedIn Auto Publish Powered By :