After dropping for two consecutive days, trading at the Nigerian Stock Exchange (NSE) on Wednesday reacted positively to the April inflation and 2018 budget passage by the Senate. The Share Index rebounded by 377.55 points or 0.93 per cent to close at 40,992.97 against 40,615.42 on Tuesday.
In the same vein, the market capitalisation inched N136 billion or 0.92 per cent to close at N14.848 billion in contrast with N14.712 trillion achieved on Tuesday.
The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, attributed the growth to low price attraction amid positive economic data released by the National Bureau of Statistics which supported recovery and growth.
Omordion said that expected approval of the 2018 budget, first quarter Gross Domestic Product and news of government plans to settle contractors debt contributed to the growth.
Investors sold 259.49 million shares valued at N4.36 billion in 4,000 deals against 203.36 million shares worth N4.43 billion achieved in 4,090 deals on Tuesday.
