The Nigerian stock market ended the day on a green note as bulls take charge, driven by investor’s interest in key sectors which resulted in a 43 basis points increase in the NGX All-Share Index (NGXASI), ultimately closing at 67,326.12 points.
The day’s positive performance was primarily led by investors’ buy interest in bellwether stocks, such as Zenith Bank (+2.64%), Access Corporation (+4.95%), Dangote Sugar PLC (+3.83%), Guaranty Trust Holding Company (+1.15%), United Bank of Africa (+3.06%), Fidelity Bank PLC (+1.52%)  and 21 other stocks. Together, these stocks played a part in the market’s upward trajectory.
Accordingly, the year-to-date return bounced to 31.37%. The total market capitalization surged by 0.43%, climbing to N36.98 trillion. Consequently, investors’ wealth increased by ₦158.34 billion.
Market activity for the day increased as both volume and value traded gained by 74.93% and 45.57% to 377.97 million units and N5.17bn, respectively.
We expect the market to trade mixed this week as fresh release of inflation data holds investors.
CURRENCY MARKET:
The Nigerian Naira depreciated by 8.90% against the US Dollar in the NAFEM Window, closing at a rate of N848.12/USD.
