NGXASI Stands at +41.37% (YTD); Naira Appreciated by 0.36% to N901.40/(USD)

December 14, 2023/Futureview Research

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EQUITIES MARKET:

Bulls held sway as the Nigerian Equities Market close fourth trading session of the week in the green region amidst improved turnover. The benchmark NGXASI gained 22bps to close at 72,455.83 points from 72,299.79 points in the previous session.

The day’s positive performance was primarily driven by rally in Tier 1 banks and other high capitalized stocks such as UBA (+2.50%), ZENITHBANK (+1.92%), DANGSUGAR (+0.61%), FBNH (+0.41%), ACCESSCORP (+3.40%), TRANSCORP (+1.76%), PZ (+1.56%) and 19 other stocks which kept the All-Share-Index in the positive terrain.

Consequently, the year-to-date returns surged to 41.37%, while the overall market capitalization increased by 22 basis points as investors wealth grew by N85.39 billion.

Market activity for the day was mixed as volume traded increased by 3.09% to reach 446.58 million units and value traded decreased by 10.16% to reach N7.26 trillion.

We expect the market to sustain the positive trend to end the week in the absence of negative catalyst.

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.36% against the US Dollar in the NAFEM Window, closing at a rate of N901.41/USD.