——Naira depreciates by 6.86%

October 24, 2023/Research & Strategy

Futureview Financial Services

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Bulls take charge as the domestic bourse returns to the North zone to end the second trading session of the week on a positive note amid improved investors sentiment. The NGXASI gained 51bps to peg the All-Share-Index at 67,217.77 points as against previous session level of 66,876.92 points. 

The market upturn was driven by price appreciation in large and medium capitalized stocks amongst which are; GTCO (+2.27%), FIDELITYBK(+1.84%), UBA (+3.92%), GEREGU (+9.05%).

Consequently, YTD improved to 31.15%, while the market capitalization gained N187.26billion to N36.9trn, as investors wealth appreciated.

CURRENCY MARKET:

The Nigerian Naira depreciated by 6.86% against the US Dollar in the NAFEM Window, closing at a rate of N847.77/USD.