Business & Economy

Local Equities Market Index Gains 1.92%, To End Trading Session In 2020

Afolabi Sotunde Illustration Naira

The Domestic Equities Market closed the trading year positive as the All-Share Index (ASI) rose by 1.92% to close at 40,270.72 points.

Hence, the year-to-date the gain of the NSE ASI climbed to 50.02% despite the Exchange printing more losers (24) than gainers (18) today.

NIBOR Falls for all Tenor Buckets amid Sustained Liquidity Ease…

Notably, investors were bullish on blue-chip stocks such as MTNN, BUACEMENT and WAPCO gave their respective share prices which rose by 6.19%, 9.87% and 0.24%. However, the sectorial performance was relatively bearish as only two of the five indices tracked closed positive; the NSE Oil/Gas and NSE Industrial indices rose by 0.65% and 3.90% respectively.

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However, the NSE Banking, NSE Insurance and the NSE Consumer goods indices fell by 0.89%, 0.41% and 0.80% respectively. Meanwhile, activity in the market was mixed as total deals and value of stocks traded fell by 15.23% and 12.35% to 4,396 deals and N10.08 billion respectively; however, the volume of stocks traded rose by 90.57% to 0.71 billion units.

Elsewhere, NIBOR fell for most tenor bucket amid sustained liquidity ease; albeit, NITTY rose for most maturities tracked. In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; while the value of FGN Eurobond rose for most maturities tracked.

Source: NSE, Cowry Research

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