Bulls emerged in the domestic bourse today, overturning the market’s bearish stand in the previous trading session as the NGX All-Share Index gained 5 basis points, closing at 100,069.77 points from 100,020.83 points in the previous session.
The market’s Positive performance was primarily driven by investors interest in stocks such as Cornerstone Insurance (+10.00%), Access Corporation (+2.63%), Zenith Bank (+2.59%), United Bank for Africa (+2.25%), Guaranty Trust Holding Company (+1.88%), AIICO Insurance (+1.00%), Nigerian Breweries (+0.34%) and 15 others.
Consequently, the year-to-date return settled to 33.83%. Also, the overall market capitalization closed at N56.61 trillion, as investor’s wealth increased to N25.72 billion.
Market activity for the day was positive as volume and value traded increased by 33.11% and 10.86% to 365.64 million units and N4.12 billion respectfully.
We expect the market to trade mixed amidst investors profit taking actions in the subsequent trading sessions.
CURRENCY MARKET:
The Nigerian Naira depreciated by 0.03% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,509.45
