Stock market resumes uptrend with N160bn gain
The equities market of the Nigerian Stock Exchange (NSE) closed yesterday with a N168bn gain on market capitalisation aided by the performance of SEPLAT and Dangote Cement.
Market capitalisation closed positive at N11.299tr after the market on Tuesday, halted a 9 straight days of positive postings.
The NSE All Share Index (ASI) appreciated by +1.5 per cent to close at 32,686.72 basis points, as against -1.1 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently standsat +21.63 per cent.
Market breadth closed negative as INTBREW led 26 Gainers against 27 Losers topped by FBNH at the end of today’s session-an unimproved performance when compared with previous outlook.
Market turnover closes negative as volume moved down by -33.00 per cent against +16.33 per cent uptick recorded in the previous session.
The Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) mechanism, commonly referred to as the ‘Investors and Exporters’ FX Window’ appears to be boosting FC supply and the flow of Foreign Currency liquidity into the banking system.
POSTED BY:OPUOMONI PRIYE
DATE:06/08/2017
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