The Nigerian equities market extended its bullish momentum, concluding the day’s trading positively. Today’s session saw the benchmark NGX All-Share Index experience an uptick of 57 basis points, rising from 101,571.11 points to 102,149.93 points. 

This surge represents a new milestone as the index reached another all-time high, reflecting positive market sentiment.

The day’s positive performance was attributed to investors’ buying activities in major stocks like Seplat (+10.00 percent), Dangote Sugar (+2.63 percent), Geregu (+5.39 percent), GTCO (+2.46 percent), UBA (+1.34 percent) and 28 other stocks.

Consequently, the year-to-date return surged to 36.61 percent. In the same vein, the overall market capitalization increased by 0.57 percent to ₦55.90 trillion, marking a new milestone as investor’s fortune grew by ₦316.75 billion.

Market activity for the day was positive as value and volume traded increased by 28.19 percent and 3.21 percent to close at N10.30 billion and 504.19 million units respectively.

Analysts expect bulls to maintain dominance in the market this week without any negative catalyst.

Meanwhile, the Nigerian Naira depreciated by 2.12 percent against the US Dollar in the NAFEM Window, closing at a rate of ₦900.96/USD.