Equity Market Revs by 0.02% on Access, UBA Shares

The Nigerian Stock Exchange, NSE, All Share Index (ASI), on Wednesday revved by 0.02 per cent as investors continued to position in selected banking stocks. The trading activities consequently moved the year to date gain marginally to 3.86 per cent.

 The Exchange nevertheless print 9 gainers as against 17 losers even as market activity slowed.

Also, the five sub-sectors tracked moved in different directions: the NSE Banking and NSE Industrial indices rose by 0.21 per cent  and 0.08 per cent  respectively while the NSE Insurance and NSE Consumer Goods indices nosedived by 0.23 per cent and 0.31 per cent  respectively.

Elsewhere, the volume and value of stocks traded moderated by 70.35 per cent and 71.43 per cent to close at 0.08 billion units and N1.06 billion.

Meanwhile, NIBOR moderated for most tenor buckets amid renewed financial system liquidity ease; however, NITTY moderated for most tenor buckets amid renewed bullish activity. In the bonds market, the values of FGN bonds rose for most maturities tracked; also, FGN Eurobonds prices appreciated further for most maturities tracked in the international market.