Bulls stage comeback as the Nigerian equities market closed the day’s trading in positive terrain, interrupting the week’s bearish run. The NGXASI recorded a marginal uptick of 30 basis points from 101,060.67 points to 101,362.38 points.
The market’s greenish closure was majorly driven by investors’ buy interest in FirstBank Nigeria Holdings (+9.96%), BUA Cement (+4.93%), ETERNA (+2.03%), United Bank for Africa (+0.21%), WAPIC Insurance (+1.43%) and 6 other stocks.
Consequently, the year-to-date return increased to 35.56%. Likewise, the overall market capitalization increased by 0.30% to ₦55.46 trillion, as investors gained ₦165.09 billion.
Market activity for the day was mixed as volume traded advanced by 18.19% to 302.75 million units and value traded declined by 1.15% to ₦6.55 billion, respectively.
We expect the equities market to trade mixed this week.
CURRENCY MARKET:
The Nigerian Naira appreciated by 0.56% against US Dollar in the NAFEM Window, closing at a rate of ₦1,542.58.
