——NGXASI stands at +41.39% (YTD); Naira depreciated by 2.65% to close at ₦1,537.96

February 16, 2024/Futureview Research

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EQUITIES MARKET:

Bulls rally as the Nigerian Equities Market sustained the previous day’s momentum to close week’s trading session on a positive note. The NGXASI recorded an uptick of 156 basis points from 104,100.00 points to 105,722.78 points.

The day’s positive performance was attributed to investors’ buying activities in major stocks like DANGSUGAR (+0.14%), GEREGU (+9.90%), BUAFOODS (+10.00%), JBERGER (+9.88%), OANDO (+0.41%) and 23 other stocks.

Consequently, the year-to-date return increased to 41.39%. Correspondingly, the overall market capitalization increased by 1.56% to ₦57.85 trillion, as investors fortune grew by ₦887.96 billion.

Market activity for the day was positive as volume and value traded advanced by 20.40% and 16.43% to 342.52 million units and ₦8.05 billion, respectively.

We expect the equities market to trade mixed in the coming week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 2.65% against US Dollar in the NAFEM Window, closing at a rate of ₦1,537.96.