NSE ASI Dips By 99Bps on Sustained Bearish Run; NIBOR Rises amid Liquidity Strain…
By Ngozi Onyeakusi …. Investors in the Nigerian stock market maintained a bearish sentiment as the NSE ASI dipped by 0.99% at close of business Tuesday even as the Exchange printed 28 losers as against 10 gainers. Symbols such as NESTLE, OANDO and ZENITHBANK waned by 3.45%, 7.84% and 2.75% respectively, triggering the NSE Consumer Goods, NSE Oil & Gas and Banking Sectorial indices to nosedive by 3.84%, 1.75% and 1.11% respectively. Also, the total volume of equities traded fell by 78.14% to 376.95 million units. Hence, the year to date loss rose to 3.83% from 2.86% despite the total volume of equities traded which increased by 23.32% to N4.54 billion. Elsewhere, NIBOR rose for most tenure buckets, while NITTY moved in mixed directions across maturities. In the bond market, the value of OTC FGN long term Debts were flattish for most maturities tracked; however, FGN Eurobonds prices rose for most maturities tracked
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