NGXASI Stands at +43.94% (YTD); Naira Appreciated by 1.50% to N872.59/(USD)

December 27, 2023/Futureview Research

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EQUITIES MARKET:

Bulls and Bears wrangle as the Nigerian Equities Market open the trading week in the red region amidst low turnover. The Benchmark NGXASI lost 34bps in today’s outing to close at 73,768.64 points from the previous session close of 74,023.27 points.

The day’s negative performance was attributed to investors’ profit taking activities in major stocks like OANDO (-1.85%), OKOMUOIL (-4.51%), STANBIC (-6.01%), UBA (-0.39%), UACN (-10.00%) along with 16 other stocks which kept the All-Share-Index in the negative zone.

As a result, the year-to-date returns plunged to 43.94%, while the overall market capitalization lost 0.34% as investors’ wealth depreciated by N139.34 billion.

Market activity for the day was mixed as volume traded increased by 2.27% to 423.91 million units while value traded decreased by 21.99% to N12.94 billion.

We expect equities to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 1.50% against the US Dollar in the NAFEM Window, closing at a rate of N872.59/USD.