July 20, (THEWILL) – Bullish sentiments resurfaced in the equities market Thursday as buying interest in GEREGU (+5.7% from share price of N333) drove the benchmark index 0.3% higher.
Thus, the All-Share Index closed at 63,930.72 points against 63,757.23 points on Wednesday.
Market capitalisation rose to N34.81 trillion against N34.71 trillion on Wednesday, resulting in N94 billion gain by investors.
Consequently, the Month-to-Date and Year-to-Date returns increased to +4.9% and +24.7%, respectively.
The total volume of trades increased by 187.0% to 1.36 billion units, valued at NGN18.07 billion, and exchanged in 7,179 deals.
UBA was the most traded stock by volume and value at 961.50 million units and N13.31 billion, respectively.
Sectoral performance was broadly positive, as the Insurance (+1.2%), Banking (+0.6%), Oil & Gas (+0.4%), and Consumer Goods (+0.3%) indices recorded gains, while the Industrial Goods index closed flat
On currency, the naira appreciated by 3.3% to N768.16/$ at the I&E window on Tuesday, against N793.70/$ it traded on the previous day.
Daily turnover dropped to $58.22 million from $87.19 million on Wednesday – signifying a decrease of 33.3%.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.