Stock market rebounds as it opened the week on a positive note with investors gaining over N178 billion from their investment.
Specifically, the Nigerian Stock Exchange, NSE market capitalisation which represents investors worth on the Exchange closed at N20.259 trillion from N20.081 trillion it closed on Friday.
Similarly, another major stock market gauge, the NSE All Share Index, ASI rose 89 bases points, bps or 1.37 per cent to close at 38,722.87 points from 38,382.39 points.
At the end of Monday’s trade, the bulls (26) outnumbered the bears amid renewed positive sentiment.
Breakdown across sectors tracked showed a strong bullish performance with four out of five indices tracked close positive. The NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and the NSE Industrial indices advanced by 0.44 per cent, 0.29 per cent, 0.14 per cent and 2.12 per cent respectively.
On the flip side, the NSE Banking index fell by 0.01 per cent. Meanwhile, trading activity was weak as total deals, volume and value of stocks traded declined by 0.28 per cent.
On what will shape the market, analysts at Vetiva Research said: “With market sentiment seemingly on the up thanks to some positive earnings and dividend announcements, we expect the session to be neutral to positive.