The Nigerian Equities Market maintained its bullish momentum to open the trading week in the North region. The benchmark NGX All-Share Index (NGXASI) recorded an increase of 130 basis points in today’s session. The index increased from 94,538.12 points to 95,768.12 points, marking another all-time high.
The day’s positive performance was attributed to investors’ buying activities in major stocks like Dangote Cement (+9.99%), UNILEVER (+7.96%), Honeywell Flour Mills (+3.93%), JAPAUL GOLD (+1.60%), ETERNA (+9.80%) and 20 other stocks.
Consequently, the year-to-date return surged to 28.08%. In the same vein, the overall market capitalization increased by 1.30% to ₦52.41 trillion, marking a new milestone as investors fortune grew by ₦673.10 billion.
Market activity for the day was negative as value and volume traded declined by 4.23% and 14.53% to close at N14.41 billion and 721.81 million units respectively.
We expect bulls to maintain dominance in the market this week in the absence of any negative catalyst.
CURRENCY MARKET:
The Nigerian Naira depreciated by 2.54% against the US Dollar in the NAFEM Window, closing at a rate of ₦925.34/USD.
