NSE ASI Revs by 1.03% as BUA Cement, International Breweries Shares Gain 10% Each

FMDQ BUA Cement Plc N100Bn Bond Issuance Now Open

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The domestic equities market sustained its bullish trend as the All-Share Index (ASI) revved by 1.03% to close at 39,512.31 points.

Given the rise in the share prices of BUACEMENT, INTBREW and ETERNA by 10% each, coupled with the higher number of gainers (24) as against losers (19), the year-to-date gain of the NSE ASI jumped to 47.20% at the close of the trading session.

Also, the performance was largely positive across sub-sectors, especially at the industrial sub-sector space.

Specifically, the NSE Industrial index rose by 3.74%; followed by the NSE Insurance and the NSE Consumer Goods indices which rose by 2.99% and 0.36% respectively. On the flip side, the NSE Banking and the NSE Oil/Gas indices fell by 0.71% and 0.39% respectively.

Meanwhile, activity in the market was relatively positive given the DANGCEM Shares Buyback Programme (up to 85.2 million units) which is expected to be completed tomorrow.

Hence, the total deals and value of stocks traded increased by 2.86% and 162.57% to 5,183 deals and N11.50 billion respectively; however, the volume of stocks traded fell by 48.39% to 0.37 billion units.

Elsewhere, NIBOR and NITTY fell for the most tenor bucket as liquidity returned to the financial market. In the OTC bonds market, the values of FGN bonds decreased for most maturities tracked; however, the value of FGN Eurobond increased for most maturities tracked.

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NSE ASI Revs by 1.03% as Bua Cement, International Breweries Shares Gain 10% Each Brandspurng
Source: NSE, Cowry Research