—NGXASI stands at +40.30% (YTD); Naira depreciated by 0.09% to N865.03/(USD)

December 12, 2023/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities Market sustained its positive trend as the benchmark NGXASI gained 33bps to close at 71,907.26 points from 71,669.91 points in the previous session.

The day’s positive performance was primarily driven by investors’ interest in stocks such as UBA (+2.65%), OANDO (+0.96%), GTCO (+0.64%), MTNN (+2.08%), ACCESSCORP (+0.99%), FCMB (+0.74%) and 18 other stocks which kept the All-Share-Index in the green terrain.

Consequently, the year-to-date returns surged to 40.30%, while the overall market capitalization increased by 33 basis points as investors wealth grew by N129.88 billion.

Market activity for the day was mixed as value traded increased by 52.54% to reach N5.88 trillion and volume traded decreased by 14.86% to reach 319.56 million units.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.09% against the US Dollar in the NAFEM Window, closing at a rate of N865.03/USD.