; NIBOR Rises for All Tenor Buckets amid Sustained Liquidity Strain……
Large cap stocks such as AIRTELAFRI, BUACEMENT and ZENITHBANK rose by 3.66%, 2.51% and 1.87% respectively as investors took advantage of cheap prices.
As Lagos stock exchange All Share Index (ASI) rose by 0.30% amid renewed bargain hunting activity; albeit, the Exchange printed 17 gainers as against 18 gainers at the close of the trading session.
Consequently, the year to date loss of the NSE ASI moderated to 10.22%.
However, sub-sector performances didn’t mirror market performance as three indices out of five we track closed southwards: the NSE Insurance, NSE Consumer Goods and NSE Oil/Gas indices declined by 1.92%, 0.52% and 0.02% respectively.
The NSE banking and NSE Industrial index rose by 0.92% and 0.09%t Meanwhile, the value of stocks traded dipped by 6.61% to N2.6 trillion despite the N1.1 trillion of MTN shares that exchanged hands today.
Elsewhere, NIBOR rose for all tenor buckets amid sustained liquidity strain; also, NITTY rose for most maturities.
In the OTC bonds market, the values of FGN bonds rose for most maturities tracked; however, FGN Eurobond declined for most maturities tracked.