As NIBOR Declines for Most Tenor Buckets amid Sustained Liquidity Ease…
The week started on a positive note as the local bourse All Share Index (ASI) rose marginally by 0.12%; albeit, the number of losers (29) outweighed the number of gainers (18) at the close of trade.
Hence, the year to date loss of the NSE ASI moderated to 7.38%.
Investors demand for consumer goods and insurance stocks, such as NESTLE, OKOMOOIl, UACN and WAPIC led to an increase in their respective indices by 1.86% and 0.23%.
However, it appeared sentiment remained weak in the equities market as performance of three sub-sector gauges were bearish.
The NSE Banking, NSE Oil/Gas and NSE Industrial Indices declined by 1.24%, 0.62% and 0.14% respectively.
Meanwhile, the value of stocks traded dwindled by 24.06% to N1.63 billion units.
Elsewhere, NIBOR moderated for most tenor buckets amid sustained liquidity ease; however, NITTY moved in mixed directions across maturities.
In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; also, FGN Eurobond tanked for most maturities tracked.