Nigeria: Market on a 3-day bullish streak
The Nigerian equity market closed today’s trading session in green for the third time in a row as the NGX benchmark index gained 16bps to close at 44,859.78 points.
Accordingly, the Year-to-date (YTD) return of the market strengthened to 5.0% from 4.9% the previous trading day.
For today’s trading activities, the total volume traded declined by 41.3% and value traded gained 24.0% to 93.5mn units and ₦3.4bn respectively. GEREGU, STERLNBANK and ACCESSCORP led the volume chart with 12.7mn units, 9.4mn units and 6.3mn units respectively.
However, GEREGU, AIRTELAFRI and MTNN led the value chart with ₦1.3bn, ₦867.0mn and ₦596.4mn respectively.
For indices under our purview, performance was more bullish as three indices printed green while two indices printed red.
Performance indicates that the Insurance index led the gainers with 114bps, followed by the Insurance and Oil and Gas indices which gained 92bps and 32bps respectively. However, the Banking and Consumer Goods indices declined by 93bps and 39bps respectively.
Daily Currency Update
On daily currency updates, I&E and the parallel market’s prices closed at ₦441.67/US$1.00 and ₦770/US$1.00 respectively. The current P2P Forex market price is ₦762.06/US$1.00. Nigeria’s external reserves is currently US$37.56bn.
