The domestic stock market All-Share Index (ASI) rebounded by 0.09% to close at 42,013.39 points amid renewed bargain hunting activity despite the Exchange recording a lower number of gainers (10) than losers (32) at the close of trading session today.
We saw investors interest in stocks such as BUACEMENT, INTBREW, OANDO, DANGSUGAR and LASACO hence, their share prices increase by 3.47%, 9.62%, 4.09%, 0.91% and 8.33%. Given the bullish market momentum, the year-to-date gain of the local bourse rebounded to 4.33%.
Bullish momentum was also seen across sub-sectors tracked as the NSE Industrial, NSE Consumer Goods and the NSE Oil/Gas indices rose by 1.09%, 0.72% and 0.57% respectively.
On the negative side, the NSE Insurance and the NSE Banking indexes mellowed by 1.49 and 1.51% respectively.
Elsewhere, market activity was mixed as transaction volume decreased by 15.65% to 0.32 billion, while the value of stocks traded increased by 1.06% to N3.28 billion.
Meanwhile, NIBOR and NITTY moved southwards for most tenor buckets tracked amid financial system liquidity ease. In the OTC bonds market, the values of FGN bonds traded rose for most maturities tracked on buy pressure.
However, the value of FGN Eurobond fell further for all maturities tracked amid sustained demand for higher yield by investors.