——NGXASI returned +38.09% (YTD); Naira depreciated by 0.55%

November 8, 2023/Futureview Research

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EQUITIES MARKET:

The Nigerian equity market sustained the positive trend, as the benchmark NGX All-Share Index (NGXASI) added 23-basis point upswing, concluding the session at 70,773.31 points, marking a marginal uptick from the previous day’s close of 70,613.60 points, showing investor confidence and favorable market sentiment.

The gains in today’s market were majorly attributed to continued price appreciation in FBNH (+0.52%), ACCESSCORP (+0.87%), UBA (+1.47%), GTCO (+0.85%), NGXGROUP(+5.54%), BUACEMENT (+1.00%), along with 21 other stocks.

Consequently, the year-to-date return surged to 38.09%, while the market capitalization rose by 0.23%, to close at ₦38.885 trillion. This led to a ₦87.79 billion increase in investors’ wealth.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.55% against the US Dollar in the NAFEM Window, closing at a rate of N874.71/USD.