Bulls held sway in the domestic bourse as the All-Share Index (NGXASI) gained 0.11% to close at 98,285.33 points from 98,176.58 points in the previous session, extending the positive trading momentum.
The positive performance was primarily driven by investor’s buying interest in stocks like GTCO (+0.13%), MTNN (+0.22%), NESTLE (+9.76%), ZENITH BANK (+2.20%) and 16 others.
Consequently, the year-to-date return settled at 31.44%. Similarly, the overall market capitalization appreciated by 0.11% to close at N55.59 trillion as investors’ wealth grew by N61.65 billion.
Market activity for the day was negative as volume and value traded decreased by 45.05% and 23.02% to 222.90 million units and N5.15 billion, respectively.
We expect the equity market to trade mixed in this week in the absence of any positive catalyst and the looming MPC meeting which may fuel investor caution.
CURRENCY MARKET:
The Nigerian Naira appreciated by 0.23% against US Dollar in the NAFEM Window, closing at a rate of ₦1,465.68.
