Investors Lose N48bn as NSE ASI Sheds 37bps;

Investors Lose N48bn as NSE ASI Sheds 37bps;

The NSE ASI dipped by 0.37 per cent amid renewed bearish activity at the close of business on Wednesday, even as the bourse printed 15 losers against 13 gainers.

The ASI Year to date losses worsened to 16.14 per cent from 15.83 per cent. Counters such as Honey Flour, Oando and Dangote Cement shed by 1.96 per cent, 3.90 per cent and 1.49 per cent respectively, dragging the NSE Consumer Goods, NSE Oil & Gas and NSE Industrial sectored gauges lower by 0.40 per cent, 1.43 per cent and 0.93 per cent respectively.

On a positive note, the total volume of equities traded increased by 61.38 per cent to 610.58 million units while total value of transactions rose by 55.31 per cent  to N2.16 billion from N11.10 billion. Elsewhere, NIBOR fell for most tenure buckets on renewed liquidity ease while in the T-bills secondary market, NITTY dipped across maturities tracked as buy pressure persisted.

In the bond market, the values of OTC FGN long term debts were flattish for most maturities tracked; however, FGN Eurobond values waned across maturities tracked amid sustained sell-offs in the international debt market.

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