Wednesday, June 23, 2021

    Bulls Sustains Grip as the All-share Index Advances by 0.10%; NIBOR Falls for most Tenor Buckets amid Financial Liquidity Ease…

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    Godwin Okafor
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    The local equities market sustained its bullish momentum as the All-share Index rose by 0.10% to close at 39,210.10 points at the end of trading session.

    Hence, the year-to-date loss of the NSE ASI fell to -2.63%. The Exchange recorded more gainers (19) than losers (15) given the positive sentiment.

    Notably, share prices of Tickers such as UNILEVER, PZ, FIDELITYBK, MAYBAKER and ZENITHBANK increased by 4.96%, 7.14%, 0.88%, 5% and 0.65% amid investors’ demand.

    Of the five indices tracked, two closed in positive territory while others moved in mixed directions; the NSE Banking and the NSE Consumer Goods indices rose by 0.52% and 0.44% respectively.

    On the other hand, the NSE Insurance and the NSE Industrial indices fell by 1.04% and 0.01% respectively, while the NSE Oil/Gas index closed flat.

    Meanwhile, trading activity was weak as total volume and value of stock traded fell by 12.76% and 43.52% to 0.15 billion units and N2.2 billion respectively.

    Elsewhere, NIBOR declined for most tenor buckets amid financial liquidity ease; albeit, NITTY moved in mixed directions across maturities tracked.

    In the OTC bonds market, the values of FGN bonds moved in mixed directions for most maturities tracked; albeit, the value of FGN
    Eurobond fell for all maturities tracked.

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