The Nigerian equity market maintained a bullish trend throughout the week, with the NGX All-Share Index (NGXASI) experiencing a five-day positive run. The final session ended slightly higher, closing at 70,849.38 points, up 4 basis points from the previous day. This reflects continued investor confidence in the market.
The gains in today’s market were majorly attributed to continued price appreciation in JAPAULGOLD (+8.20%), FCMB (+9.37%), VFDGROUP (+9.97%), ACCESSCORP (+0.29%), CONOIL (+7.86%), PZ (+9.26%), along with 27 othersstocks, collectively propelling the market in an upward direction.
Consequently, the year-to-date return surged to 38.24%, while the market capitalization rose slightly by 0.04%, to close at ₦38.93 trillion. This led to a ₦14.28 billion increase in investors’ wealth.
Market activity was negative as volume and value traded decreased by 2.19% and 66.87% to 556.70 million units and ₦5.56 billion, respectively.
We expect equities to sustain positive sentiment in the coming week amidst continuous improvement in investors’ sentiment.
CURRENCY MARKET:
The Nigerian Naira appreciated by 21.73% against the US Dollar in the NAFEM Window, closing at a rate of N780.14/USD.
