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NSE ASI Rebounds by 0.80% amid Renewed Bullish Activity

Published

4 years ago

on

December 30, 2020

By

Naira, Dollar to Naira, Naira P2p Market

NIBOR Rises for all Tenor Buckets amid Renewed Liquidity Strain…

The local equities market commenced the trading week in the green zone as its All Share Index (ASI) rose by 0.80% to close at 39,110.17 points as banking and Industrial stocks were the toast of investors today. Hence, the year-to-date gain of the NSE ASI increased to 45.71% despite the Exchange printing more losers (20) than gainers (19). We saw investors took a position in BUACEMENT, ZENITH BANK and ACCESS shares.

Hence, their respective share prices increased by 6.67%, 2.04% and 4.07%. However, the performance was largely negative across sub-sectors; the NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices fell by 0.81%, 0.05% and 0.06% respectively. On the flip side, the NSE Banking and the NSE Industrial indices rose by 1.05% and 2.39% respectively.

Meanwhile, activity in the market was mixed as the total deals and volume of stocks traded ballooned by 72.38% and 85.40% to 2,925 deals and 0.38 billion units respectively; however, value of stocks traded fell by 45.00% to N4.38 billion. Elsewhere, NIBOR rose for most tenor bucket amid renewed liquidity strain; while NITTY declined for all maturities tracked.

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In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities tracked; however, the value of FGN Eurobond declined for most maturities tracked.

NSE ASI Rebounds by 0.80% amid Renewed Bullish Activity Brandnewsday

Source: NSE, Cowry Research

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