The Nigerian Variable Income Market opened the week with a bullish note, since the index of all shared NGX (thus) advanced at 0.43 percent to close at 126,689.54 basic points.
This gain promoted the return of the year so far this year (YTD) to 23.09 percent, which underlines the sustained confidence of investors and a feeling of the general optimistic market.
The bullish note was as a result of profits in the Bua CEMMT, Transcorp and Dangote Cement actions.
Market capitalization increased by N341 billion to N80.14 billion, which reflects a deeper market liquidity and a greater purchase interest.
The amplitude of the market was positive, with 45 winners exceeding 36 losers, reinforcing the bullish tone in the sectors.
The sectorial performance was largely optimistic, led by the sectors of goods, banks, basic and oil and gas products. On the contrary, the sectors of consumer goods and insurance recorded marginal decreases.
Commercial activity improved in all metrics: the number of agreements increased by 18.06 percent, the commercial value increased by 5.41 percent and the negotiated volume increased by 7.39 percent to 1.29 billion shares worth N32.2 billion in 39,431 transactions, highlighting a strong market share and solid liquidity
Access Holdings was the most negotiated by volume action at 138.03 million units, while Seplat Energy was the most negotiated action at N5.38 billion.