—-NGXASI stands at +39.22% (YTD); Naira appreciated by 0.34% to close at ₦1,498.25

February 15, 2024/Futureview Research

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EQUITIES MARKET:

Bulls rally as the Nigerian Equities Market sustained the previous day’s momentum to close today’s trading session on a positive note. The NGXASI recorded an uptick of 58 basis points from 103,498.28 points to 104,100.00 points.

The day’s positive performance was attributed to investors’ buying activities in major stocks like BUACEMENT (+5.87%), FIDELITYBK (+5.34%), BUAFOODS (+1.56%), GEREGU (+6.47%), HONYFLOUR (+7.50%) and 19 other stocks.

Consequently, the year-to-date return increased to 39.22%. Correspondingly, the overall market capitalization increased by 0.58% to ₦56.96 trillion, as investors fortune grew by ₦329.25 billion.

Market activity for the day was negative as volume and value traded declined by 33.35% and 42.89% to 248.49 million units and ₦6.91 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.34% against US Dollar in the NAFEM Window, closing at a rate of ₦1,498.25.