Bulls maintained grip on Equities; Investors gained N468 billion; Naira down by 0.82%

Bulls maintained a grip on Equities; Investors gained N468 billion; Naira was down by 0.82% on Friday 30th June 2023.

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Equities Market: The trading week came to a positive close on the local bourse, as bullish market conditions prevailed and favored the All-Share Index.

The banking and telecommunications sectors witnessed a notable rally, which contributed to a 1.43% increase in the benchmark NGXASI at the session’s conclusion. As a result, the ASI reached a closing point of 60,968.27, marking a significant rise from its previous standing at 60,108.86 points on Tuesday.

Investors’ enthusiastic buying activity in 57 stocks played a pivotal role in driving the day’s impressive performance. Noteworthy contributions came from the likes of AIRTELAFRI, which experienced a remarkable 4.75% increase, followed by MTNN with a solid 2.32% rise. GTCO and ZENITHBANK also made their mark, showcasing gains of 1.74% and 0.74% respectively. Additionally, ETERNA witnessed a substantial surge of 9.95%, while PZ stood out with an impressive 10% climb.

The Year to Date (YTD) return soared to an impressive 18.96%, marking a significant milestone for investors. Simultaneously, the market capitalization witnessed a notable uptick of 143 basis points, culminating in a closing value of N33.20 trillion. This favorable outcome translated into a substantial boost in investors’ wealth, as their collective holdings increased by an impressive N467.96 billion.

Similarly, market activity for the day was positive as volume and value traded rose by 30.69% and 27.30% to close at 998.08 million units and N15.96 billion, respectively.

The market breadth witnessed a significant decrease, declining from 3.92x to 2.85x. Among the listed stocks, 57 demonstrated upward movement, while 20 experienced a decline, and 48 remained unchanged at the closing bell.

Investors anticipate mixed performance in the new week July 02-07 2023.

Currency Market: The Nigerian Naira depreciated by 0.82% against the US Dollar in the I&E Window, closing at N769.25/USD.



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