NGXASI Stands at +39.84% (YTD); Naira Appreciated by 21.36% to N864.29/(USD)

December 11, 2023/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities Market extends its positive trend to close the first trading session of the week in the green region. The NGXASI gained 18bps to close at 71,669.91 points from 71,541.74 points in the previous session.

The day’s positive performance was primarily driven by investors’ interest in stocks such as UBA (+0.44%), ZENITHBANK (+1.43%), GTCO (+0.38%), MTNN (+0.59%), ETI (+9.88%), OANDO (+0.97%) and 25 other stocks which kept the All-Share-Index in the North region.

Consequently, the year-to-date returns surged to 39.84%, while the overall market capitalization increased by 18 basis points as investors wealth grew by N70.14 billion.

Market activity for the day was negative as value and volume traded decreased by 46.53% and 25.51% to reach N3.85 trillion and 375.32 million units respectively.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 21.36% against the US Dollar in the NAFEM Window, closing at a rate of N864.29/USD.