The Nigerian Equities Market extended its bullish momentum, concluding the day’s trading on a positive note. Today’s session saw the benchmark NGX All-Share Index (NGXASI) experience an uptick of 57 basis points, rising from 101,571.11 points to 102,149.93 points. This surge represents a new milestone as the index reached yet another all-time high, reflecting positive market sentiment.
The day’s positive performance was attributed to investors’ buying activities in major stocks like SEPLAT (+10.00%), DANGSUGAR (+2.63%), GEREGU (+5.39%), GTCO (+2.46%), UBA (+1.34%) and 28 other stocks.
Consequently, the year-to-date return surged to 36.61%. In the same vein, the overall market capitalization increased by 0.57% to ₦55.90 trillion, marking a new milestone as investors fortune grew by ₦316.75 billion.
Market activity for the day was positive as value and volume traded increased by 28.19% and 3.21% to close at N10.30 billion and 504.19 million units respectively.
We expect bulls to maintain dominance in the market this week in the absence of any negative catalyst.
CURRENCY MARKET:
The Nigerian Naira depreciated by 2.12% against the US Dollar in the NAFEM Window, closing at a rate of ₦900.96/USD.
