NSE ASI Dwindles by 0.39% on Sustained Sell-Offs
By Ngozi Onyeakusi — The NSE ASI waned by 0.39% amid sustained equities sell-off with the Local Bourse printing 19 losers against 11 gainers at close of business today. Also, the NSE Industrial and NSE Consumer Goods Sectorial Indices dwindled by 0.45% and 0.45% respectively as share prices of DANGCEM, UNILEVER and DANGFLOUR plunged by 0.53%, 1.96% and 5.88% respectively. On a year to date basis, losses of local stocks rose to 5.97% from 5.61%. Elsewhere, the total volume of equities traded dipped by 8.02% to 499.1 million units; similarly, the total value of equities traded fell by 48.89% to N2.89 billion as investors interests were not stimulated despite lower share prices. Meanwhile, NIBOR rose for most tenure buckets on liquidity squeeze, as did NITTY across maturities. In the bond market, the value of OTC FGN debts moved in mixed directions; however, FGN Eurobonds prices fell for all maturities tracked.
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