——Naira depreciate by 3.27%
October 20, 2023/Research & Strategy
Futureview Financial Services
Click here to download the full report
EQUITIES MARKET:
The week ended with a bearish tone in the Equities market as investors sold off high-cap stocks, leading to a 27bps decline in the NGX All-Share Index (NGXASI) to 66,915.41 points, down from the previous close of 67,098.80 points.
Investor-driven sell-offs in major capitalized stocks, such as GEREGU (-7.22%), GTCO (-0.56%), FIDELITYBK (-0.61%), ZENITHBANK (-0.30%), FBNH (-0.62%), and 16 other stocks, collectively contributed to the day’s negative market performance.
As a result, the year-to-date return decreased to 30.56%, while the total market capitalization dipped by 0.27%, settling at N36.76 trillion. This led to a reduction in investors’ wealth by ₦100.75 billion.
Market activity for the day exhibited mixed trends, with a 31.07% decline in trading volume to 205.89 million units and a 42.32% increase in trading value to ₦6.38 billion.
CURRENCY MARKET:
The Nigerian Naira depreciated by 3.27% against the US Dollar in the NAFEM Window, closing at a rate of N808.27/USD.
