Bulls regained dominance in the domestic stock exchange during today’s trading session, driving the market into positive territory as the NGX All-Share Index rose by 3 basis points, closing at 98,255.72 points, up from the previous session’s 98,223.97 points
The positive upturn was propelled by investors renewed interest in bellwether stocks such as: Access Corporation (+0.86%), Guaranty Trust Holding Company (+5.26%), Zenith Bank (0.59%), Transnational Corporation of Nigeria (2.78%), OANDO (4.90%) and 18 others.
As a result the year-to-date return rose to 31.40%. In the same vein, the market capitalization gained 3bps to settle at 55,570.05 as investor’s wealth rose by ₦ 17.96 billion.
Market activity for the day was positive as volume traded increased by 111.99% to 676.42 million units while value traded increased by 81.56% to N16.66 billion, respectively.
We expect the equities market to end the week on a positive note in absence of any negative catalyst.
CURRENCY MARKET:
The Nigerian Naira depreciated by 2.72% against US Dollar in the NAFEM Window, closing at a rate of ₦1,459.73.
