Domestic Bourse Index Falls by 1.16% amid Sell-offs on Dangote Cement and WAPCO Shares

Local Bourse Starts The Week In Red
Local Bourse Starts The Week In Red

NIBOR Moderates for most Tenor Buckets amid Renewed Liquidity Ease…

The local equities market closed in red for the last trading day of the week as its All Share Index (ASI) moderated by 1.16% to close at 40,12.22 points; albeit the Exchange recorded more gainers (39) than losers (11). Hence, the year-to-date performance of the NSE ASI slipped into the negative zone (-0.37%).

Specifically, investors booked profit on industrial stocks such as WAPCO and Dangote Cement; their share prices fell by 8.13% and 0.45% respectively.

Consequently, the NSE Industrial index suffered a loss of 4.02%. On the positive side, the NSE Banking, NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices rose by 1.31%, 0.26%, 0.42% and 6.98% respectively.

Meanwhile, activity in the market was weak as total volume and value of stocks traded declined by 84.38% and 51.12% to 0.33 billion units and N3.6 billion respectively.

Elsewhere, NIBOR fell for most tenor bucket amid renewed liquidity ease; also, NITTY moderated for most maturities tracked amid demand pressure. In the OTC bonds market, the values of FGN bonds moderated for most maturities tracked; however, the value of FGN Eurobond rose for most maturities tracked.