The domestic bourse opened the trading week in the green zone as the NGX All-Share Index gained 13 basis points by the close of the day, reaching 99,665.05 points compared to the previous session’s 99,539.75 points.
The market’s positive performance was primarily driven by investors’ interest in stocks such as Guaranty Trust Holding Company (+9.55%), Zenith Bank (+6.76%), Transnational Corporation of Nigeria (+2.86%), United Bank for Africa (+0.66%) and 12 others.
As a result, the year-to-date return settled at 33.29%. Consequently, the overall market capitalization experienced a 0.13% increase, reaching N56.37 trillion, as investors’ wealth grew by N70.87 billion.
Market activity for the day was mixed as volume traded advanced by 18.91% to 306.62 million unit and value traded declined by 1.81% to N5.30 billion, respectively.
We expect bears to maintain hold on equities amidst in the absence of any positive catalyst.
CURRENCY MARKET:
The Nigerian Naira depreciated by 5.51% against US Dollar in the NAFEM Window, closing at a rate of ₦1,234.49.