—-NGXASI stands at +38.42% (YTD); Naira depreciated by 0.29% to close at ₦1,503.38

February 15, 2024/Futureview Research

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EQUITIES MARKET:

Bulls rally as the Nigerian Equities Market closed the day’s trading in the green region. The NGXASI recorded an uptick of 176 basis points from 101,707.70 points to 103,498.28 points.

The day’s positive performance was attributed to investors’ buying activities in major stocks like ACCESSCORP (+1.29%), AIRTELAFRI (+10.00%), BUAFOODS (+7.02%), GEREGU (+6.72%), SEPLAT (+9.61%) and 23 other stocks.

Consequently, the year-to-date return increased to 38.42%. Correspondingly, the overall market capitalization advanced by 1.76% to ₦56.63 trillion, as investors fortune grew by ₦979.78 billion.

Market activity for the day was positive as volume and value traded increased by 62.19% and 181.51% to 426.86 million units and ₦12.11 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.29% against US Dollar in the NAFEM Window, closing at a rate of ₦1,503.38.