—–NGXASI stands at +36.47% (YTD); Naira depreciated by 4.38% to close at ₦1,534.39

February 12, 2024/Futureview Research

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EQUITIES MARKET:

Bulls hold sway as the Nigerian Equities Market sustained its bullish momentum to open the week’s trading in the green zone. The NGXASI recorded an 18 basis points gain from 101,858.37 points to 102,042.32 points.

The day’s positive performance was attributed to investors’ buy interest in major stocks like ZENITHBANK (+0.14%), GEREGU (+6.75%), NASCON (+0.65%), OANDO (+8.87%), ETERNA (+3.62%) and 27 other stocks.

Consequently, the year-to-date return increased to 36.47%. In the same vein, the overall market capitalization advanced by 0.18% to ₦55.84 trillion, as investors gained ₦100.65 billion.

Market activity for the day was negative as volume and value traded decreased by 24.68% and 30.31% to close at 242.43 million units and ₦5.13 billion.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 4.38% against US Dollar in the NAFEM Window, closing at a rate of ₦1,534.39.