Bulls re-entered the Nigerian Exchange, as the market overturned the previous days’ negative trading to close in the green zone today. The All-Share Index (NGXASI) gained 0.24% to close at 99,284.38 points from 99,051.02 points in the previous session.
The day’s positive performance was primarily driven by investors interest in stocks like Zenith Bank (+2.81%), Stanbic IBTC (+9.62%), Fidelity Bank (+8.00%), Ecobank Transnational Inc (+4.76%) and 14 others.
Consequently, the year-to-date return rose to 32.78%. Similarly, the overall market capitalization increased by 0.24% to close at N56.16 trillion as investors gained N132.01 billion.
Market activity for the day was negative as volume and value traded declined by 11.30% and 36.49% to 308.14 million units and N4.86 billion, respectively.
We expect the market to trade mixed amidst investors profit-taking actions.
CURRENCY MARKET:
The Nigerian Naira depreciated by 0.79% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,488.60.
