The Nigerian stock market closed the days’ trading session on a bullish note with investors interest noted in highly capitalized stocks like SEPLAT (+9.99%), GEREGU (+3.60%) & MTN (+5.52%) which led to a notable upward movement in NGXASI, as it recorded a gain of 111 basis points, closing at 65,991.02 points, compared to its Monday closing value of 65,268.28.
The positive closure in the stock market’s performance today was also driven by substantial gains in some other stocks such as GTCO (+0.52%), ACCESSCORP (+0.28%), UNILEVER (+9.72%), and DANGSUGAR (+2.18%), along with 28 other stocks.
Consequently, the Year to Date (YTD) return experienced a significant upswing, reaching 28.76%. Moreover, the overall market capitalization showed a 1.11% increase, settling at N35,932.76 trillion, leading to a notable rise in investors’ wealth by N393.54 billion.
We anticipate a bullish sentiment in the equities market this week, as we expect to see the rollout of firms’ half year results.
Currency Market
The Nigerian Naira appreciated by 0.08% against the US Dollar in the I&E Window, closing at a rate of N791.42/USD.
