—-NGXASI stands at +36.53% (YTD); Naira depreciated by 5.99% to close at ₦1,665.50

February 23, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian equities market picked up the positive tempo to close the week’s trading in the green zone. The NGXASI recorded a marginal uptick of 84 basis points from 101,239.10 points to 102,088.07 points.

The market’s bullish closure was majorly driven by investors’ buying interest in BUAFOODS (+6.27%), FBNH (+6.90%), TRANSCORP (+3.59%), WEMABANK (+6.41%), FIDELITYBK (+0.48%) and 17 other stocks.

Consequently, the year-to-date return increased to 36.53%. Likewise, the overall market capitalization increased by 0.84% to ₦55.86 trillion, as investors gained ₦464.67 billion.

Market activity for the day was positive as volume and value traded advanced by 15.02% and 21.74% to 291.01 million units and ₦6.02 billion, respectively.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 5.99% against US Dollar in the NAFEM Window, closing at a rate of ₦1,665.50.