Local Equities Market Index Gains 0.02% Amid Sustained Bargain Hunting Activity

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Negative Performance Persists In The Local Bourse
Negative Performance Persists In The Local Bourse

The domestic bourse resumed the week in positive territory as the index rose marginally by 0.02% to close at 38,220.01 points amid sustained bargain hunting activity; hence, the year-to-date loss of the NSE ASI fell to 5.09%.

Similarly, the Exchange printed more gainers (27) than losers (16) amid investors demand small and mid-cap stocks. Specifically, buying interest in symbols such as STANBIC, UPDCREIT, OANDO, NEM and ZENITH BANK resulted in rising in their respective share prices by 1.86%, 6.19%, 3.65%, 0.50% and 0.42%.

Of the five indices tracked, three closed in the green zone; the NSE Banking, NSE Insurance and the NSE Oil/Gas indices increased by 0.63%, 1.47% and 0.12% respectively.

On the flip side, the NSE Consumer Goods and the NSE Industrial indices fell by 0.39% and 0.06% respectively. Meanwhile, trading activity was positive as total deals and volume of stock traded rose by 47.78% and 35.10% to 4,788 deals and 0.28 billion units respectively.

Elsewhere, NIBOR fell for all tenor buckets amid financial liquidity ease; albeit, NITTY rose for most maturities tracked. In the OTC bonds market, the values of FGN bonds declined for most maturities tracked; also, the value of the FGN Eurobond fell for most maturities