Local Equities Market Rebounds by 0.54% on Renewed Bullish Activities

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As NITTY Declines Amid Buy Pressure….
MPR: 13.50%

Feb ’20 Inflation Rate: 12.20% Q4 2019 Real GDP: 2.55%
At the close of Friday’s trade, the local bourse All.Share Index (ASI) rebounded by 0.54% to close at 22,198.43 points on renewed bullish activities even as the Exchange recorded 18 gainers as against 13 losers.

Consequently, the year to date loss of the NSE ASI declined to 17.3%. Bellwether stocks such as, GUARANTY, MTNN, CAP, JBERGER, DANGCEM rose by 1.64%, 3.52%, 8.33%, 6.28% and 0.54% respectively.

Hence, the NSE Banking, NSE Insurance and NSE Industrial indices rose by 0.24%, 0.37% and 0.19% respectively.

However, the volume and value of stocks traded declined by 27.83% and 27.81% to 0.38 billion units and N3.42 billion respectively.

Meanwhile, NIBOR moved in different directions; while NITTY declined for most maturities amid sustained buy pressure.

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