Bullish momentum prevails in the domestic bourse as the day’s trading closed in the green, continuing the positive trend from the previous trading session as the NGX All-Share Index (NGXASI) gained 0.53% to close at 98,383.04 points from 97,863.34 points in the previous session.
The positive performance was primarily driven by investors continued interest in Tier-1 banks and other major stocks like – Dangote Sugar (+10.00%) , Transnational Corporation of Nigeria (+8.57%) , Nigerian Breweries (+8.25%), FBN Holdings (+4.27%), Seplat Energy (+3.33%), Zenith Bank (+2.11%), Guaranty Trust Holding Company (+0.66%), Access Corporation (+0.29%) and 20 others.
Consequently, the year-to-date return settled at 31.57%. Similarly, the overall market capitalization increased by 0.53% to close at N55.65 trillion as investor’s wealth grew by N249.12 billion.
Market activity for the day was positive as volume and value traded increased by 52.49% and 10.85% to 559.61 million units and N6.58 trillion, respectively.
We expect bulls to extend dominance in the coming session amidst renewed interest in the banking stocks.
CURRENCY MARKET:
The Nigerian Naira closed flat against the US Dollar in the NAFEM Window, closing at a rate of ₦1,339.33.
