NGXASI Stands at +45.37% (YTD); Naira Depreciated by 19.54% to N1043.09/(USD)

December 28, 2023/Futureview Research

Click here to download the full report

EQUITIES MARKET:

In today’s trading, the Bulls overturned the Bears as the Benchmark NGXASI gained 99bps in today’s trading to close at 74,502.58 points from the previous session close of 73,768.64 points.

The day’s positive performance was attributed to investors’ buying activities in major stocks like ZENITHBANK (+0.53%), DANGCEM (+2.20%), DANGSUGAR (+1.23%), JAIZBANK (+6.32%), MTNN (+4.58%) along with 31 other stocks which kept the All-Share-Index in the green terrain.

As a result, the year-to-date returns rose to 45.37%, while the overall market capitalization gained 0.99% as investors’ fortune grew by N401.63 billion.

Market activity for the day was negative as volume and value traded declined by 11.17% and 56.20% to 384.58 million units and N5.67 billion respectively.

We expect equities to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 19.54% against the US Dollar in the NAFEM Window, closing at a rate of N1043.09/USD.