The Bulls Take Over from The Bears as NSE All-Share.Index Rebounds by 17bps; NIBOR Closes Flat for All Tenor Buckets…

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The domestic equities market rebounded by 0.17% to close at 42,014.50 points following two consecutive days of losses. Similarly, the Exchange printed 25 gainers as against 13 losers to close the trading session for the week.

At the top of the gainers table are UACN, ARDOVA, FBNH, UBA and ACCESS stocks; their respective share prices increased by 7.84%, 4.07%, 3.26%, 4.32% and 2.70% respectively.

Hence, the year-to-date gain of the local bourse climbed to 4.33%.

Positive sentiment was broad based considering the three (from five tracked) sub-sector gauges that closed northwards.

Specifically, the NSE Banking, NSE Insurance and the NSE Oil/Gas indexes rose by 1.76%, 0.83% and 0.22% respectively.

On the flip side, the NSE Consumer Goods and the NSE Industrial indices moderated by 0.51% and 0.02% respectively.

Elsewhere, market activity came in stronger today on banking stocks hence, the volume and value of stocks traded increased by 72.21% and 69.19% to 0.28 billion and N2.38 billion respectively.

Meanwhile, NIBOR was flattish for all maturities tracked. However, NITTY rose for most maturities tracked.

In the OTC bonds market, the values of FGN bonds traded moved in mixed directions across maturities tracked as investors cherry picked maturities.

However, the value of FGN Eurobond appreciated for most maturities tracked amid sustained buy pressure.