As the Nigerian Equity market comes to a close for the week, the market experienced yet another bullish close. The All-share-index, surged by 165 basis points, reaching a closing value of 63,040.87 points compared to Thursday’s 62,019.88 points close.
The bullish positive performance was majorly attributed to the energized buying activity observed in over half of the trading stocks on the exchange. High capitalized stocks such as, DANGCEM (+3.48%), PRESCO (10%), FBNH (+6.84%), STANBIC (9.84%), GTCO (+2.09%), ACCESSCORP (+2.18%), DANGSUGAR (+1.85%), MRS (8.98%), were the major market movers for today.
Following the upward trend, the Year to Date (YTD) return climbed to an impressive 23%. Furthermore, the market capitalization observed a 1.65% rise, totaling N34,326.38 billion, thereby leading to a substantial increase in investors’ wealth amounting to N555.94 billion.
We expect the equities market to start the coming week, in the green zone.
Currency Market
In the I&E Window, the Nigerian Naira experienced a depreciation of 1.87% against the US Dollar, to close at N776.90/USD.
