—–NGXASI Stands at +39.22% (YTD); Naira Depreciated by 2.48% to N814.60/(USD)

November 27, 2023/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities Market kicked off the first trading session of the week on a positive note as the benchmark NGXASI gained 17bps to close at 71,353.81 points from 71,230.58 points in the previous session.

The day’s positive performance was primarily driven by investors’ buy interest in major stocks, amongst which were ACCESSCORP (+4.32%), ZENITHBANK (+1.73%), FBNH (+10.00%), UBA (+1.44%), TRANSCORP (+4.50%) and 27 other stocks which kept the All-Share-Index in the positive terrain.

Consequently, the year-to-date returns rose to 39.22%, while the overall market capitalization declined by 34 basis points as investors fortunes decreased by N132.43 billion.

Market activity for the day was positive as volume and value traded increased by 28.12% and 39.81% to reach 746.67 million units, and N5.94 trillion, respectively.

We expect the market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 2.48% against the US Dollar in the NAFEM Window, closing at a rate of N814.60/USD.