—-DANGSUGAR, DANGCEM, OANDO, NASCON & NESTLE Decline; Naira up to N736.62
September 7, 2023/Research & Strategy
Futureview Financial Services
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Equities Market
The Domestic bourse ended the day’s session on a negative note as noteworthy stocks declined in value, pulling the NGXASI downward by 30bps to 68,082.11 points from 68,286.28 points in the previous session.
The day’s bearish performance was driven by decline in the prices of DANGSUGAR (-3.98%), DANGCEM (-1.35%), ONADO (-4.76%), NASCON (-6.83%), NESTLE (-1.39%) and 25 other stocks.
The year-to-date return settled at 32.84%. Market capitalization decreased by 0.30% to close at N37.26 trillion as against N37.37 trillion in the last session. This outcome led to a decline in investors’ wealth by N111.74 billion.
Market activity varied as volume traded declined by 0.15% to 378.09 million units, while value traded increased by 52.77% to N8.38 billion.
We anticipate the market to close bearish as we continue to see profit taking.
Currency Market
The Nigerian Naira appreciated by 4.53% against the US Dollar in the I&E Window, closing at a rate of N736.62/USD
