Nigerian bourse rebound with 0.02%gain Wednesday

Equities segment on the Nigerian Stock Exchange rebound from Tuesday’s 0.52 per cent loss at 36,600.07 points with a 0.02 per cent gain on Wednesday, closing at 36,608.76 points.

Similarly, market capitalization closed higher at N12.75 trillion, however, market breadth was negative with 23 losers as against 17 gainers.

All sectoral indices closed positively aside the Industrial and ASEM that maintained their previous closes

Trade volume and trade value both increased on their previous levels of 257 million shares valued at N3.29 billion to close at 331 million shares valued at N5.56 billion by the end of trading activities on Wednesday.

Wema Bank stock was the toast of investors as it recorded the highest activity in the equities market in terms of the value of trades to the sound of N1.16 billion while United Bank for Africa led on volume basis followed by Conoil, Sterling Bank, UACN and ETI.

, Analysts at Meristem expect portfolio rebalancing to cause a rally on stocks with strong fundamentals, this, they said, will probably make market closing positively, given that the year is drawing to a close.