The local bourse sustained its bullish trend as the day’s trading session ended on a positive note. The Benchmark, NGX All Share Index gained 62bps in today’s session to close at 78,020.54 points from 77,537.57 points in the previous session.
The day’s positive performance was attributed to investors’ buying activities in major stocks like MTN Nigeria (+2.84%), Dangote Sugar (+4.43%), Conoil (+5.79%), Transnational Corporation of Nigeria (+9.93%), Wema Bank (+10%), Guaranty Trust Holding Company (+1.20%), Zenith Bank (+0.86%) and 41 other stocks.
Consequently, the year-to-date return surged to 4.34%, while the overall market capitalization gained 0.62% to N42.69 trillion as investors’ wealth rose by N264.29 billion.
Market activity for the day was positive as volume and value traded increased by 6.11% and 4.40% to 984.19 million units and N11.16 billion, respectively.
We expect a sustained bullish trend in the equities market driven by improved investors’ sentiment.
CURRENCY MARKET:
The Nigerian Naira appreciated by 13.51% against the US Dollar in the NAFEM Window, closing at a rate of N895.23/USD.
