—-NGXASI Stands at +39.59% (YTD); Naira Depreciated by 30.36% to N1099.05/(USD)

December 8, 2023/Futureview Research

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EQUITIES MARKET:

Bulls regained dominance as the Nigerian Equities Market halts negative outing to close the last trading session of the week in the green region, amidst improved turnover. The NGXASI gained 12bps to close at 71,541.74 points from 71,457.92 points in the previous session.

The day’s positive performance was primarily driven by investors’ interest in stocks such as UBA (+2.74%), ACCESSCORP (+1.25%), GTCO (+0.26%), AIRTELAFRI (+2.10%), ETI (+9.79%), PZ (+9.87%) and 17 other stocks which kept the All-Share-Index in the North region.

Consequently, the year-to-date returns surged to 39.59%, while the overall market capitalization increased by 12 basis points as investors wealth grew by N45.87 billion.

Market activity for the day was mixed as value traded decreased by 4.53% to reach N7.21 trillion, while volume traded increased by 15.41% to close at 503.84 million units.

We expect the equities market to trade mixed in the coming week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 30.36% against the US Dollar in the NAFEM Window, closing at a rate of N1099.05/USD.