—–Naira appreciates by 5.51%

October 25, 2023/Research & Strategy

Futureview Financial Services

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EQUITIES MARKET:

The local bourse (NGX) overturned the bullish trend as benchmark All Share Index (ASI) closed negative by 2bps to settle at 67,206.16 from the previous session level of 67,217.77 points. 

The slight loss in today’s market can be majorly attributed to price depreciation in GTCO (-1.25%), UBA (-5.78%), FIDELITYBK (-0.60%), ZENITHBANK(-0.60%) which kept the ASI in a negative terrain. Losses were recorded in 15 other mid to large cap stocks.

As a result, the year-to-date (YTD) returns decreased to 31.13% and Market Capitalization reduced by N6.38 billion to close at N 36.92 trillion.

CURRENCY MARKET:

The Nigerian Naira appreciated by 5.51% against the US Dollar in the NAFEM Window, closing at a rate of N801.10/USD.