Nigerian Bourse Rebounds by 0.86% on Renewed Bargain Hunting

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; 12-Month NITTY Rises to 17.28%…

The local bourse rose by 0.86% on renewed bargain hunting, after recording five days of straight losses, closing the month positively.
The Exchange recorded 22 gainers against 15 losers with shares of Guaranty Trust Bank, Mobil Oil, Nigerian Breweries and Dangote Cement lifting NSE Banking, NSE Oil/Gas, NSE Consumer Goods and NSE Industrial indexes higher by 1.53%, 1.52%, 0.90% and 0.14% respectively.
Hence, the year-to-date loss of All Share Index moderated to 19.26%. Elsewhere, NIBOR and NITTY rose for all tenor buckets amid sustained liquidity strain.
However, OTC FGN Bonds moved in mixed directions across maturities while FGN Eurobonds rose on sustained bullish activity.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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