The Bulls make a comeback in the domestic bourse, closing the day’s trading in the Green. Propelling the All-Share Index (NGXASI) to appreciate by 84 bps to close at 98,156.71 points as against 97,343.42 points in the previous session.
The bullish performance was primarily driven by investor’s interest in stocks like; Airtel Africa (+8.97%), NB (+1.77%), Fidelity Bank (+1.18%), Guinea Insurance (+10.00%), and 11 others.
Consequently, the year-to-date return settled at 31.27%. Similarly, the overall market capitalization appreciated by 35.70% to close at N55.53 trillion as investors’ gained N466.73 billion.
Market activity for the day was positive as both volume and value traded increased by 15.25% and 24.95% to 409.77 million units and N8.93billion, respectively.
We expect the equity market to close the week on a negative note due to a lack of significant positive drivers and the looming MPC meeting may fuel investor caution.
The Nigerian Naira depreciated by 5.14% against US Dollar in the NAFEM Window, closing at a rate of ₦1,533.99.
