Nigeria Stock Market Rebound by 0.33% amid Renewed Bullish Activity

0

As NIBOR Falls for most Tenor Buckets amid Renewed Liquidity Ease…

The equities market started the week positively as the All-Share Index (ASI) roseby 0.33% to 40,573.31 amid positive investorssentiments. Hence, the year-to-date gain of the NSE ASI rose to 0.75% even as the number of gainers (31) outweighed the losers (13).

Specifically, buy interest in SEPLAT lifted its share priceby 10% amid sustained rise in crude oil prices; hence the NSE Oil/Gas Index jumped by 5.35%.

Also, bellwethers such as WAPCO, GUARANTY and ZENITHBANK advanced by 5.05%, 1.48% and 0.60% respectively.

Performance across sub-sector gauges tracked was bullish as the remaining indices tracked closed in green except for the NSE Consumer Goods index which fell by 0.03%.

The NSE Banking, the NSE Insurance and NSE Industrial indices increased by 1.81%, 1.38%and0.35% respectively.

Meanwhile, trading activity remained weak as total deals, volume and value of stocks traded fell by 19.86%, 47.87% and 58.31% to 4,264deals, 0.20billion units and N2.1 respectively.

Elsewhere, NIBOR fell for most tenor buckets amid renewed liquidity ease; also, NITTY moderated for most maturities tracked.

In the OTC bonds market,the values of plain vanilla FGN bonds were flattish for most maturities tracked; however, the value of FGN Eurobond rose for most maturities tracked

This site uses Akismet to reduce spam. Learn how your comment data is processed.