NGXASI Stands at +38.58% (YTD); Naira Depreciates -2.70% to N841.14/(USD)

November 16, 2023/Futureview Research

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EQUITIES MARKET:

The Local bourse ended the day’s trading session on a positive note as the benchmark NGXASI rose slightly by 2bps to 71,025.16 points from 71,014.34 points in the previous session.

The day’s upward performance was driven by the positive showings of NNFM (+9.85%), NB (+5.26%), OANDO (+1.30%), MTN (+0.21%), FLOURMILL (+0.31%), and 18 other stocks.

Consequently, the year-to-date rose to 38.58%, followed by a 0.02% increase in market capitalization to close at ₦39.06 trillion as investors’ wealth appreciated by N5.9 billion.

Market activity for the day varied as volume traded increased by 62.72% to 483.85 million units, while value traded declined by 28.93% to N4.38 trillion.

We anticipate a positive end to the week in the equities market amid sustained investor sentiment.

CURRENCY MARKET:

The Nigerian Naira depreciated by 2.70% against the US Dollar in the NAFEM Window, closing at a rate of N841.14/USD.