—-Naira Depreciated by 2.51%
October 5, 2023/Research & Strategy
Futureview Financial Services
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Equities Market
The Nigerian exchange concluded today’s trading session on a positive note, as gains across sectors resulted to the rebound on equities, leading to a slight bullish market sentiment. The benchmark NGX All-Share Index (NGXASI) experienced an appreciation of 13 basis points, settling at 66,570.19 points, compared to the preceding session’s closing figure of 66,482.28 points.
The day’s positive performance was predominantly influenced by investors interest in bellwether stocks. Notably, OANDO (+5.29%), ACCESSCORP (+0.31%), FIDELITYBK (+1.85%), NASCON (+5.69%), UBA (+0.30%), WEMABANK (+9.93%) and 18 other stocks who exhibited noteworthy increase.
This market movement resulted the year-to-date return to close at 29.89%. Concurrently, the aggregate market capitalization experienced an increase of 0.39%, culminating in a closing value of N36.53 trillion. Consequently, investors collectively witnessed a rise in their wealth to the tune of N140.77 billion.
Market activity for the day appreciated as volume and value traded increased by 54.27% and 2.95% to 1.01 billion units and N4.73 billion.
We expect a mixed market in this week’s trading as equities rebound from recent losses
CURRENCY MARKET
The Nigerian Naira depreciated by 2.51% against the US Dollar in the I&E Window, closing at a rate of N775.20/USD.
