NGXASI Stands at +45.90% (YTD); Naira Appreciated by 13.04% to N907.11/(USD)

December 29, 2023/Futureview Research

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EQUITIES MARKET:

The Nigerian equities market end the year on a bullish note, as bulls extends its winning trend to the final trading session of the year. The Benchmark NGXASI gained 36bps in today’s trading to close at 74,773.77 points from the previous session close of 74,502.58 points.

The day’s positive performance was attributed to investors’ buying activities in major stocks like ZENITHBANK (+1.18%), JBERGER (+8.04%), UBA (+2.19%), GTCO (+1.12%), MTNN (+0.57%) along with 45 other stocks which kept the All-Share-Index in the green terrain.

As a result, the year-to-date returns rose to 45.90%, while the overall market capitalization gained 0.36% as investors’ fortune grew by N148.45 billion.

Market activity for the day was mixed as value traded gained by 126.23% to N12.80 billion while volume traded declined by 4.15% to 368.63 million units.

We expect equities to trade mixed the coming week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 13.04% against the US Dollar in the NAFEM Window, closing at a rate of N907.11/USD.