—-NGXASI stands at +36.02% (YTD); Naira appreciated by 2.30% to close at ₦1,499.07

February 13, 2024/Futureview Research

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EQUITIES MARKET:

Bears stage comeback as the Nigerian Equities Market suspended its bullish momentum to close the day’s trading in the red region. The NGXASI recorded a 33 basis points decline from 102,042.32 points to 101,707.70 points.

The day’s negative performance was attributed to investors’ profit taking activities in major stocks like ZENITHBANK (-3.79%), GTCO (-1.00%), UBA (-4.77%), TRANSCORP (-2.27%), OANDO (-3.77%) and 24 other stocks.

Consequently, the year-to-date return decreased to 36.02%. Correspondingly, the overall market capitalization declined by 0.33% to ₦55.65 trillion, as investors fortune declined by ₦183.10 billion.

Market activity for the day was mixed as volume traded increased by 8.56% to 263.19 million units and value traded decreased by 16.09% to ₦4.3 billion.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 2.30% against US Dollar in the NAFEM Window, closing at a rate of ₦1,499.07.