Nigeria Stock Market Index Rebounds by 0.17% on Renewed Bullish Activity

 The Nigerian Stock Exchange, NSE ASI rebounded by 0.17 per cent  on renewed bullish activity to close at 22,734.07 points following five consecutive days of profit taking.

The Exchange printed 17 gainers as against 15 losers as investors cherry-picked stocks. The year to date loss of the NSE ASI shrank to 15.30 per cent from 15.44 per cent.

 The share prices of Zenith Bank, Flourmill, UBA, AXA Mansard and Guaranty Trust Bank which rose by 8.76 per cent, 8.08 per cent, 8.93 per cent, 9.27 per cent and 4.97 per cent respectively were the toast of investors on Friday thus, the NSE Banking and NSE Insurance indices rose by 4.17 per cent and 2.70 per cent respectively.

 However, the NSE Consumer Goods, NSE Oil/gas and NSE Industrial dipped by 1.31 per cent, 4.89 per cent and 0.04 per cent respectively.

The total volume of stocks traded declined by 30.76 per cent to 0.73 billion units; however, total value of stocks traded rose by 4.18 per cent to N10.21 billion.

Meanwhile, NIBOR and NITTY declined for most tenor buckets. In the OTC bonds market, the values of FGN bonds moved in mixed directions; while FGN Eurobond moderated for all maturities tracked.