The local bourse sustained its bullish trend as the benchmark All-Share Index gained by 128bps in today’s outing to close at 73,397.71 points from the previous session close of 72,470.10 points.
The day’s positive performance was driven by bargain hunting in bellwether stocks, including Airtel Africa (4.87%), Transnational Corporation of Nigeria (10.00%), WAPCO (1.77%), PRESCO (3.94%) and rally in Tier 1 banks such as; UBA (1.00%), Zenith Bank (1.99%), Access Corporation (1.33%), GTCO (0.76%) along with 29 other stocks which kept the All-Share-Index in the green zone.
As a result, the year-to-date returns rose to 43.21%, while the overall market capitalization gained 1.28%, closing at an all-time high of N40.16 trillion as investors’ wealth appreciated by N507.60 billion.
Market activity for the day was positive as volume and value traded increased by 34.88% and 84.62% to 554.64 million units and N12.83 trillion, respectively.
We expect a sustained uptick in the coming session, in the absence of any negative catalyst.
CURRENCY MARKET:
The Nigerian Naira depreciated by 1.16% against the US Dollar in the NAFEM Window, closing at a rate of N854.61/USD.
