The week’s trading ended with bullish momentum, resulting in the Nigerian Equities market closing the day’s session in positive territory. The benchmark NGX All-Share Index (NGXASI) gained 54 basis points to close at 83,042.96 points from 82,597.08 points.
The day’s positive performance was attributed to investors’ buying activities in major stocks like United Bank for Africa (+0.65%), Transnational Corporation of Nigeria (+3.36%), WAPCO (+2.56%), Guaranty Trust Holding Company (+2.89%), NAHCO (+5.82%), First Bank Nigeria Holdings (+1.63%) and 43 other stocks.
Consequently, the year-to-date return increased to 11.06%. In the same vein, the overall market capitalization increased by 0.54% to ₦45.44 trillion as equity investors gained ₦243.99 billion.
Market activity for the day was negative as volume and value traded decreased by 31.53% and 36.88% to close at 600.63 million units and N9.10 billion respectively.
We anticipate the equities market to trade mixed in the coming sessions.
CURRENCY MARKET:
The Nigerian Naira depreciated by 1.80% against the US Dollar in the NAFEM Window, closing at a rate of ₦890.54/USD.
