The Nigerian equities market marginally extends the previous day’s positive closure to close the second trading day of the week in the green region amidst improved turnover. The benchmark All-Share Index gained by 9bps to settle at 72,470.10 points from the previous sessions close of 72,404.91 points.
The day’s positive performance was attributed to investors buy interest in bellwether stocks, including OANDO (2.38%), TRANSCORP (0.57%), WAPCO (3.68%), MTNN (0.61%) and rally in Tier 1 banks such as; UBA (3.09%), ZENITHBANK (1.75%), ACCESSCORP (2.73%), GTCO (0.25%) and 28 other stocks which kept the All-Share-Index in the green terrain.
Consequently, the year-to-date returns rose to 41.40%, while the overall market capitalization increased by 0.09% to N39.66 trillion as investors’ wealth grew by N35.67 billion.
Market activity for the day was positive as volume and value traded increased by 26.82% and 58.02% to 411.21 million units and N6.95 trillion, respectively.
We expect a sustained uptick in the coming session, in the absence of any negative catalyst.
CURRENCY MARKET:
The Nigerian Naira appreciated by 4.90% against the US Dollar in the NAFEM Window, closing at a rate of N844.85/USD.
