—–NGXASI Stands at +41.07% (YTD); Naira Depreciated by 4.58% to N904.65/(USD)

December 13, 2023/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities Market sustained its bullish run to close the midweek trading session in the green region as the benchmark NGXASI gained 55bps to close at 72,299.79 points from 71,907.26 points in the previous session.

The day’s positive performance was primarily driven by investors’ interest in stocks such as UBA (+3.45%), ZENITHBANK (+2.54%), GTCO (+1.01%), FBNH (+4.97%), ACCESSCORP (+8.09%) and 29 other stocks which kept the All-Share-Index in the positive terrain.

Consequently, the year-to-date returns surged to 41.07%, while the overall market capitalization increased by 55 basis points as investors wealth grew by N214.80 billion.

Market activity for the day was positive as value and volume traded increased by 37.40% and 35.56% to reach N8.08 trillion and 433.18 million units respectively.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 4.58% against the US Dollar in the NAFEM Window, closing at a rate of N904.65/USD.