——NGXASI Stands at +3.70% (YTD); Naira Depreciated by 4.72% to N1035.12/(USD)

January 3, 2023/Futureview Research

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EQUITIES MARKET:

The local bourse sustained its bullish trend as the day’s trading session ended on a positive note. The Benchmark NGXASI gained 204bps in today’s trading to close at 77,537.57 points from the previous session close of 75,990.88 points.

The day’s positive performance was attributed to investors’ buying activities in major stocks like ZENITHBANK (+4.23%), TRANSCORP (+9.98%), UBA (+10.00%), ACCESSCORP (+9.98%), OANDO (+9.68%), GTCO (+3.49%), NASCON (+10.00%) along with 71 other stocks which kept the All-Share-Index in the positive terrain.

As a result, the year-to-date surged to 3.70%, while the overall market capitalization gained 2.04% as investors’ fortune grew by N846.37 billion.

Market activity for the day was positive as volume and value traded gained 79.83% and 91.83% to 927.56 million units and N10.69 billion, respectively.

We expect the bulls to sustain dominance on equities in the absence of negative catalyst.

CURRENCY MARKET:

The Nigerian Naira depreciated by 4.72% against the US Dollar in the NAFEM Window, closing at a rate of N1035.12/USD.