The Nigerian equities market sustained its positive momentum from the previous day as The NGX All-Share Index experienced an uptick of 35 basis points, settling the day at 99,190.46 from 98,847.89 previous session.
The market upward trend was primarily propelled by significant interest in Transnational Corporation of Nigeria (+10.00%), Zenith Bank (+0.14%), FirstBank Nigeria Holdings (+9.88%), Transnational Power (+10.00%), Guaranty Trust Holding Company (+0.48%) and 5 additional stocks.
Consequently, the year-to-date return increased to 32.65%. Similarly, the overall market capitalization increased by 0.35% to N56.08 trillion as investors’ fortune grew by N193.69 billion.
Market activity for the day was mixed as volume traded declined by 7.33% to 398.13 million units while value traded advanced by 59.55% to N31.78 billion, respectively.
We expect the equities market to trade mixed this week.
CURRENCY MARKET:
The Nigerian Naira depreciated by 4.45% against US Dollar in the NAFEM Window, closing at a rate of ₦1,602.43.
