The Nigerian equities market picked up the positive tempo to close the week’s trading in the green zone. The NGX All Share Index recorded a marginal uptick of 84 basis points from 101,239.10 points to 102,088.07 points.
The market’s bullish closure was majorly driven by investors’ buying interest in BUA Foods (+6.27%), FirstBank Nigeria Holdings (+6.90%), Transnational Corporation of Nigeria (+3.59%), Wema Bank (+6.41%), Fidelity Bank (+0.48%) and 17 other stocks.
Consequently, the year-to-date return increased to 36.53%. Likewise, the overall market capitalization increased by 0.84% to ₦55.86 trillion, as investors gained ₦464.67 billion.
Market activity for the day was positive as volume and value traded advanced by 15.02% and 21.74% to 291.01 million units and ₦6.02 billion, respectively.
We expect the equities market to trade mixed in the coming week.
CURRENCY MARKET:
The Nigerian Naira depreciated by 5.99% against US Dollar in the NAFEM Window, closing at a rate of ₦1,665.50.