Stock Market Rebounds by 0.41% as Banking Stocks Lead

Stock Market Rebounds by 0.41% as Banking Stocks Lead

The Nigerian bourse rebounded as the NSE ASI advanced by 0.41 per cent , even as the Exchange printed 18 gainers as against 13 laggards at the end of

Monday’s trading session.

Counters such as Access, GTBank, ZenithBank and CCNN gained 3.85 per cent, 3.57 per cent, 0.88 per cent and 3.14 per cent respectively, lifting the NSE Banking and NSE industrial sub-indices higher by 2.49 per cent and 0.65 per cent respectively.

 Hence, the year-to-date loss moderated to 16.00 per cent from 16.35 per cent.

Meanwhile, the total volume of traded shares spiked by 45.89% to 368.18 million units; however, the total value of stocks traded fell by

26.08 per cent to N2.77 billion. Elsewhere, NIBOR rose across tenure buckets amid renewed liquidity strain while NITTY soared for most maturities tracked on renewed profit taking activity.

 In the bonds market, the values of OTC FGN papers were flattish for most maturities tracked; on the flip side, FGN

Eurobond prices rose for all maturities in the international debt market.

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