By Kayode Ogunwale

In today’s equity trading, investors were able to reap benefits as the market saw a significant gain of N262.82 billion. The Nigerian Exchange Limited All Share Index (NGXASI) has shown a positive growth trend, standing at 34.41 percent year-to-date. Additionally, the Naira appreciated by 0.94 percent, closing at N1,566.82 against other major currencies.

The market’s positive performance can be attributed to the resurgence of bulls, which led to a 47 basis point increase in the NGX All-Share Index, closing at 100,503.21 points. Investor interest was particularly high in stocks such as Oando, Airtel Africa, Custodian and Allied Insurance, Access Corporation, and various others that posted gains during the session.

Overall, this uptrend reflects a growing confidence in the market and signals potential opportunities for investors to capitalize on favorable conditions. It’s essential to closely monitor market trends and make informed investment decisions to leverage these developments effectively.

Consequently, in the financial realm, the year-to-date return has settled at an impressive 34.41 percent, showcasing a significant growth in investments. The overall market capitalization closed at a substantial N56.91 trillion, depicting a robust economic presence as investors’ wealth soared by N262.82 billion.

However, despite these positive indicators, market activity for the day witnessed a negative trend, with both volume and value traded experiencing a decline. The volume traded plummeted by 64.27 percent to 392.80 million units, while the value traded also saw a decrease of 17.30 percent to N8.33 billion.

Shifting focus to currency trading, the Nigerian Naira exhibited strength by appreciating 0.94 percent against the US Dollar in the NAFEM Window. This upward movement led to the Naira closing at a rate of N1,566.82, further solidifying its position in the foreign exchange market.