The Nigerian Stock Exchange bounced back today as the All Share Index closed at 33,114.44 basis points, up 2.04%. Year to date, the index is down 13.41%.
The rebound comes on the heels of the Monetary Policy Committee’s decisions to hold rates constant. CBN Governor Godwin Emefiele stated that Holding would sustain gradual improvement in output (GDP)growth.
There was also a need to maintain the current policy (interest rate and other parameters) stance in order to get a clearer understanding of the quantum and timing of the planned monetary injections before deciding on possible adjustments.
Top Gainers and Losers
Law Union and Rock Insurance was the best performing stock on the Nigerian Stock Exchange today. The stock appreciated by 10% to close at N0.66. Neimeth International Pharmaceuticals closed at N0.68. First Aluminum closed at N0.40, up 8.11%.
Livestock Feeds was the worst performing stock on the NSE today. The stock closed at N0.52, down 8.77%. Japaul Oil and Maritime Services closed at N0.22, down 8.33%. Union Diagnostics and Clinical Services Plc closed at N0.35, down 7.89%
Top Trades by Volume
Zenith Bank was the highest traded stock by volume as 43.2 million shares valued at N923 million were traded in 402 deals. International Breweries was next with 36.9 million shares valued at N1.1 billion traded in 12 deals. 35.2 million UBA shares valued at N291 million traded in 307 deals.