NSE Gains 1.58% Amid Sustained Bargain Hunting Activity

NSE Gains 1.58% Amid Sustained Bargain Hunting Activity
The Nigeria Stock Exchange, NSE, All Shares Index, ASI,on Wednesday rose by 1.58 per cent to close at 29,437.60 points amid sustained bullish momentum; even as the Exchange recorded 41 gainers as against 5 losers at the close of the trading session.
The year to date gain of the NSE ASI jumped to 9.6 per cent. Specifically, the NSE Consumer Goods index advanced by 5.66 per cent amid positive 9 months financial performance of some companies in the sector.
 Notably, counters such as Nestle, Flour Mills, Cadbury and UACN
advanced by 10 per cent, 6.42 per cent, 3.61 per cent and 2.10 per cent respectively.
Similarly, all the sub-sector indices closed in green; the NSE Banking, NSE Insurance, NSE Oil/Gas
and NSE Industrial rose by 1.18 per cent, 1.52 per cent, 214 per cent and 1.12 per cent respectively. Meanwhile, market activity was mixed as the total volume of stocks traded fell by 2.68 per cent to 0.37 billion unit.
 However, the value of stocks traded rose by 59.02 per cent to N4.6 billion.
 Elsewhere, NIBOR fell for most tenor buckets amid sustained
liquidity ease; also, NITTY moderated for all maturities tracked amid demand pressure. In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; however, FGN Eurobond moderated for most maturities tracked.

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