The Domestic bourse concluded the mid-week trading session of the week on a bullish note, primarily driven by investors regained interest in the Banking and Insurance sectors, causing equities to gain by 98 basis points and ending the day at 66,414.40 points, up from 66,760.20 points in the previous session.
This positive performance was influenced by Investors renowned interest in key stocks, including NASCON (+10%), Dangote Sugar (+10%), OANDO (+9.73%), Access Corporation (+9.77%), NAHCO (+10%), GTCO (+6.00%), and 28 other stocks.
As a result, the year-to-date return now stands at 31.54%. Additionally, the overall market capitalization gained by 0.98%, closing at N36.90 trillion, leading to an increase in investors’ wealth by N338.61 billion.
Market activity varied as volume traded decreased by 11.76% to 569.63 million units, while value traded increased by 689.60% to N8.70 billion.
We expect the bullish sentiment to continue in the upcoming session as the market continues to look profitable to domestic investors even with some negative catalysts.
Currency Market
The Nigerian Naira depreciated by 2.16% against the US Dollar in the I&E Window, closing at a rate of N758.12/USD.
