ZenithBank, Flour Mills,UBA, Mansard, GTBank Record Gains as NSE Index Rebounds by 0.17%

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as NIBOR, NITTY Fall on Financial Liquidity Ease…

The NSE ASI rebounded by 0.17% 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. Consequently, the year to date loss of the NSE ASI shrank to 15.30% from 15.44%.

The share prices of ZENITHBANK, FLOURMILL, UBA, AXA MANSARD and GUARANTY which rose by 8.76%, 8.08%, 8.93%, 9.27% and 4.97% respectively were the toast of investors today thus, the NSE Banking and NSE Insurance indices rose by 4.17% and 2.70% respectively. However, the NSE Consumer Goods, NSE Oil/gas and NSE Industrial dipped by 1.31%, 4.89% and 0.04% respectively.

Meanwhile, total volume of stocks traded declined by 30.76% to 0.73 billion units; however, total value of stocks traded rose by 4.18% 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.

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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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