——-NGXASI Stands at +38.55% (YTD); Naira Appreciates +5.26% to N750.14/(USD)

November 20, 2023/Futureview Financial Services

Click here to download the full report

EQUITIES MARKET:

Bulls and Bears wrangle as The Nigerian Equities Market starts a new week on a negative note as the benchmark NGXASI lost 15bps to drag the All-Share Index to 71,008.70 points from its previous close of 71,112.99 points.

The losses in today’s market were primarily driven by price decline in ZENITHBANK (-0.75%), STANBIC (-7.08%), NB (-2.50%), ACCESSCORP (-0.58%), FIDELITYBK (-0.57%) and 10 other stocks which kept the All-Share-Index in a negative terrain.

Consequently, the year-to-date returns reduced to 38.55%, followed by a 0.15% decrease in market capitalization to close at ₦39.05 trillion as investors’ wealth declined by N57.31 billion.

Market activity for the day was negative as value and volume traded decreased by 27.77% and 18.83% to reach N4.36 trillion and 358.45 million units, respectively.

We anticipate a mixed trading next week as we expect sentiments from the fresh inflation data to slip in.

CURRENCY MARKET:

The Nigerian Naira appreciated by 5.26% against the US Dollar in the NAFEM Window, closing at a rate of N750.14/USD.