The Nigerian Equities market closed flat today as the NGX All-Share Index recorded minimal upturn, closing at 99,842.94 points from 99,840.95 points in the previous session.
The market’s performance was primarily driven by gains in Transnational Corporation of Nigeria (+6.19%), Guaranty Trust Holding Company (+4.42%), United Bank for Africa (+0.68%), and 33 others, offsetting selling pressure in stocks such as, Transcorp Hotels (-10.00%), Fidelity Bank (-4.15%), Flour Mills of Nigeria (-1.40%), FBN Holdings (-0.45%), OANDO (-0.33%), Zenith Bank (- 0.14%), and 29 others.
Consequently, the year-to-date return settled to 33.53%. Also, the overall market capitalization remained unchanged, to close at N56.48 trillion as investors gained slightly; N0.99 billion.
Market activity for the day was mixed as volume traded decreased by 6.04% to 1.30 billion units while value traded increased by 53.64% to N25.33 billion, respectively.
We expect the market to trade mixed amidst investors profit-taking actions in the subsequent trading sessions.
CURRENCY MARKET:
The Nigerian Naira depreciated by 0.16% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,485.36
