NSE ASI Rebounds by 0.09% amid Renewed Bargain Hunting
The local equities market rebounded by 0.09% on Monday, amid renewed bargain hunting activity starting the trading week on a positive note, even as the exchange recorded 11 gainers as against eight losers.
Also, the NSE Insurance and NSE Industrial gauges moved northwards by 1.85 per cent, and 0.20 per cent respectively, as share prices of Mansard, Dangote Cement, Nestle and UBA rose by 6.25 per cent , 0.55 per cent , 0.01 per cent and 1.69 per cent respectively.
Consequently, the year to date losses of local stocks contracted to
15.50 per cent from 15.58 per cent.
Meanwhile, the total value of equities traded rose by 82.46 per cent to N2.74billion while the total volume of equities traded increased by 9.96 per cent to 129.08million units.
Elsewhere, NIBOR increased across tenure bucket amid renewed sustained liquidity squeeze; however, NITTY dipped for most maturities tracked amid renewed bullish activity.
The value of OTC FGN long term bonds moved in mixed directions across maturities; however, the FGN Eurobonds prices fell for most maturities tracked on renewed sell pressure.