Bulls stage comeback as the Nigerian Equities Market suspended its bearish trading to close the week’s trading in the green zone. The NGXASI recorded a 62 basis points gain from 101,227.66 points to 101,858.37 points.
The day’s positive performance was attributed to investors’ interest in major stocks like Zenith Bank (+2.36%), Geregu Power (+9.92%), Access Corporation (+2.06%), OANDO (+8.87%), Transnational Corporation of Nigeria (+6.64%) and 34 other stocks.
Consequently, the year-to-date return increased to 36.22%. In the same vein, the overall market capitalization advanced by 0.62% to ₦55.74 trillion, as investors gained ₦345.11 billion.
Market activity for the day was mixed as volume traded decreased by 32.71% to close at 321.89 billion units and value traded increased by 2.54% to close at ₦7.35 billion.
We expect the equities market to trade mixed the coming week.
CURRENCY MARKET:
The Nigerian Naira appreciated by 0.64% against US Dollar in the NAFEM Window, closing at a rate of ₦1,469.97.
