—–NGXASI Stands at +38.54% (YTD); Naira Depreciated by 1.15% to N840.53/(USD)

November 22, 2023/Futureview Research

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EQUITIES MARKET:

Bears held sway as the Nigerian Equities Market closes the mid-week trading session in the red region amidst low turnover. The benchmark NGXASI shed 9bps to drop the All-Share Index to 71,003.98 points from its previous close of 71,066.64 points.

The losses in the market were majorly attributed to profit taking in MTNN (-0.63%), UBA (-0.24%), WAPCO (-1.34%), DANGSUGAR (-1.64%), FBNH (-4.00%), CILEASING (-7.56%) and 9 other stocks which kept the All-Share-Index in a South terrain.

Consequently, the year-to-date returns declined to 38.54%, followed by a 0.09% decrease in market capitalization to close at ₦39.05 trillion as investors’ wealth declined by N34.47 billion.

Market activity for the day was mixed as volume traded decreased by 12.81% to reach 428.44 million units, and value traded increased by 128.85% to close at N7.37 trillion.

We expect equities to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 1.15% against the US Dollar in the NAFEM Window, closing at a rate of N840.53/USD.