The Nigerian equities market continued its positive trajectory, with investors experiencing a fourth consecutive session of gains. As a result, the benchmark All-Share Index increased by 6 basis points (bps) to reach 59,361.55 points, compared to the previous session’s level of 59,323.95 points.
The day’s positive performance was driver by investors’ buying interest on MRS (+6.76%), GUINNESS (+2.96%), GEREGU (+1.69%), MTN (+0.19%) and ZENITHBANK (+0.16%).
As a result, the Year to Date (YTD) return saw a significant rise to 15.83%. Furthermore, the market capitalization increased by 0.06% to reach N32.32 trillion, resulting in a boost of investors’ wealth by N20.50 billion.
The market activity displayed a mixed pattern, with a 4.22% decrease in the volume traded, amounting to 615.91 million units, while the value traded witnessed an 8.38% increase, reaching N6.62 billion.
The market breadth weakened as investor sentiment decreased from 1.76x to 1.10x. This shift was influenced by the upward movement of 34 stocks, the downward movement of 31 stocks, and 58 stocks closing at the same price as the previous session.
We expect the market to end the trading week on a positive note.
Currency Market
The Nigerian Naira depreciated by 0.26% against the US Dollar in the I&E Window, closing at N765.13/USD. However, the exchange rate in the CBN SMIS Window remained unchanged at N640.00/USD.
