Stock Market Rebounds by 0.17% on Renewed Bullish Activity

Stock Market Rebounds by 0.17% on Renewed Bullish Activity

By UDO ONYEKA

 The NSE All Share Index (ASI) rebounded by 0.17 per cent amid renewed bullish activity as the Exchange recorded 19 gainers as against 10 losers at the close of

Thursday’s trading session.

The year to date gain of the local bourse climbed to 2.78 per cent.

Amongst the five sub-sector gauges, only NSE insurance and NSE industrial indices closed in positive territory having increased by 1.30 per cent and 1.66 per cent respectively.

 However, market activity waned as the value of stocks traded moderated by 28.56 per cent to close at N3.59 billion.

An analysis of the activity chart shows that transactions in the shares of Sovereign Trust Insurance topped the activity chart with 200 million shares valued at N40 million.

Guaranty Trust Bank followed with an exchange of 56.29 million shares worth N1.57 billion, while Zenith Bank sold 36.71 million shares valued at N713.88 million.

United Bank for Africa traded 32.36 million shares worth N247.45 million, while FBN Holdings transacted 31.19 million shares valued at N179.37 million.

In all, investors traded 484.99 million shares worth N3.59 billion in 4,187 deals.

This was against 290.15 million shares valued at N5.02 billion transacted in 3,528 deals achieved on Wednesday.

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