Bulls Rally as NGXASI Up by 30bps,  Investor Gain N165.09Bn

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—NGXASI stands at +35.56% (YTD); Naira appreciated by 0.56% to close at ₦1,542.58

February 21, 2024/Futureview Research

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Bulls stage comeback as the Nigerian equities market closed the day’s trading in positive terrain, interrupting the week’s bearish run. The NGXASI recorded a marginal uptick of 30 basis points from 101,060.67 points to 101,362.38 points.

The market’s greenish closure was majorly driven by investors’ buy interest in FBNH (+9.96%), BUACEMENT (+4.93%), ETERNA (+2.03%), UBA (+0.21%), WAPIC (+1.43%) and 6 other stocks.

Consequently, the year-to-date return increased to 35.56%. Likewise, the overall market capitalization increased by 0.30% to ₦55.46 trillion, as investors gained ₦165.09 billion.

Market activity for the day was mixed as volume traded advanced by 18.19% to 302.75 million units and value traded declined by 1.15% to ₦6.55 billion, respectively.

We expect the equities market to trade mixed this week.


The Nigerian Naira appreciated by 0.56% against US Dollar in the NAFEM Window, closing at a rate of ₦1,542.58.

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