The Nigerian Equities market closed the first trading week of the new year in the green region. The Benchmark, NGX All Share Index gained 211bps in today’s session to close at 79,664.66 points from 78,020.54 points in the previous session.
The day’s positive performance was attributed to investors’ buying activities in major stocks like Access Corporation (+6.20%), Dangote Cement (+1.59%), Fidelity Bank (+6.37%), Guaranty Trust Holding Company (+1.19%), Julius Berger (+6.25%), NESTLE (+8.73%), UBA (+3.39%) and 54 other stocks.
Consequently, the year-to-date return surged to 6.54%, while the overall market capitalization gained 2.11% to N43.59 trillion as investors’ wealth rose by N899.69 billion.
Market activity for the day was mixed as value traded increased by 28.38% to N14.33 billion and volume traded declined by 9.30% to 892.68 million units.
We expect a sustained bullish trend in the equities market in the coming week driven by improved investors’ sentiment.
CURRENCY MARKET:
The Nigerian Naira appreciated by 2.92% against the US Dollar in the NAFEM Window, closing at a rate of N869.13/USD.
