Stock Market Rebounds.


The Nigerian Stock exchange appreciated by 1.51percent to close at 32,686.72. The market brushed off losses to make a profit rebound.

The market returned to a bullish trend as there were gains for Dangote, Flour mill, Seplat and Forte Oil amongst others.

Nigerian breweries led with the highest Value 10.22 per cent, trailed by Forte Oil Plc, with 10.2 per cent, while Dangote Sugar Refinery Plc chalked up 9.9 per cent.

Market analysts said the renewed demand for International Breweries may not be unconnected with its plan to merge with two other companies, Intafact Beverages Limited and Pabod Breweries Limited.

An analysis of the market performance across sectors indicated that three of the five  indices advanced. The NSE  Oil & Gas Index outperformed with a 3.0 per cent gain on account of appreciations in Forte Oil Plc (+10.2 per cent) and Seplat (+5.0 per cent).


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