Activities at the Nigerian equities market sustained the upward trajectory on Thursday, June 16, indicating that investors were taking position following the release of the forex policy guidelines by the Central Bank of Nigeria.
As a result of the renewed market confidence and positive sentiment buoyed by the new forex framework, investors recorded a net capital gain of N206 billion.
With this, the stock market is on the verge of crossing to net positive return as average year-to-date return closed at -0.53 per cent. With 32 advancers to 15 decliners, the overall market situation was boosted by gains across the sectors, including several highly capitalized stocks.
Turnover also leaped above average to 618.24 million shares valued at N5.41 billion in 6,757 deals.
With N294 billion capital gains recorded on Wednesday after the announcement of the new forex guidelines, the bourse has recorded a net gain of N500 billion in the past two trading sessions.
