——NGXASI Stands at +38.66% (YTD); Naira Depreciated by 10.78% to N830.97/(USD)

November 21, 2023/Futureview Research

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EQUITIES MARKET:

In today’s trading, the Bulls overturned the Bears as the benchmark NGXASI gained 8bps to pull the All-Share Index to 71,066.64 points from its previous close of 71,008.70 points.

The gains in the market were majorly attributed to the price appreciation as Tier 1 banks rallied, the positive performers include ZENITHBANK (0.15%), UBA (0.73%), GTCO (0.54%), ACCESSCORP (0.29%), FIDELITYBK (1.71%) and 40 other stocks which kept the All-Share-Index in a North terrain.

Consequently, the year-to-date returns surged to 38.66%, followed by a 0.08% increase in market capitalization to close at ₦39.08 trillion as investors’ wealth rose by N31.82 billion.

Market activity for the day was mixed as volume traded increased by 37.09% to reach 491.40 million units, and value traded decreased by 26.07% to close at N3.22 trillion.

We expect equities to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 10.78% against the US Dollar in the NAFEM Window, closing at a rate of N830.97/USD.