The domestic market continued the week’s trading on a positive note, with bullish forces maintaining control and extending the upward trend carried over from the previous week. The NGX All-Share Index increased by 145 basis points by the close of the day, reaching 103,524.44 points compared to the previous session’s 102,044.84 points.
The market’s positive performance was driven by increases in the prices of key stocks such as Access Corporation (+9.51%), MTN Nigeria (+9.98%), United Bank for Africa (+10.00%), Julius Berger (+9.71%), Veritas Kapital (+9.37%), and 30 additional stocks.
As a result, the year-to-date return rose to 38.45%. In a similar vein, the overall market capitalization experienced a 1.45% uptick, reaching N58.53 trillion, as investors saw their wealth grow by N836.58 billion.
Market activity for the day was mixed as volume traded advanced by 29.50% to 565.79 million units while value traded declined by 16.76% to N14.23 billion, respectively.
We expect the market to sustain its bullish trend in the new week.
CURRENCY MARKET:
The Nigerian Naira appreciated by 0.90% against US Dollar in the NAFEM Window, closing at a rate of ₦1,603.38.
