Stock Market Index Rebounds by 0.17 % amid Renewed Bullish Activity

By Our Correspondent

The Nigerian Equity Market, All Share Index (ASI) rose by 0.17 per cent amid renewed bargain hunting activity; albeit, the number of losers (24) outweighed the  gainers (10) at the close of trading session.

The year to date loss of the NSE ASI moderated to 6.96 per cent.

Amid Investors’ interest in Counters such as Flour Mills, Nestle and Zenith Bank, their respective share prices rose by 10 per cent, 4.35 per cent and 0.31 per cent.  However, most sub-sector performance didn’t mirror the market performance as only the NSE Consumer goods index rose by 4.19 per cent.

The NSE Banking, NSE Insurance and NSE Oil/Gas tanked by 0.79 per cent, 2.95 per cent and 4.37 per cent respectively.

Elsewhere, NIBOR declined for most tenor buckets amid renewed liquidity ease; however, NITTY was flattish for all maturities despite the declining stop rates at the primary market on Wednesday.