——NGXASI stands at +36.41% (YTD); Naira appreciated by 4.96% to close at ₦1,582.94

February 26, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian equities market opened the week’s trading on a bearish note. The NGXASI recorded a marginal downtick of 9 basis points from 102,088.07 points to 101,995.21 points.

The market’s bearish closure was majorly driven by investors’ profit taking activities in ACCESSCORP (-4.30%), DANGSUGAR (-7.69%), UBA (-0.42%), WEMABANK (-2.41%), FIDELITYBK (-0.96%) and 20 other stocks.

Consequently, the year-to-date return decreased to 36.41%. Similarly, the overall market capitalization decreased by 0.09% to ₦55.81 trillion, as investors lost ₦50.64 billion.

Market activity for the day was positive as volume and value traded advanced by 1.14% and 11.69% to 294.32 million units and ₦6.72 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 4.96% against US Dollar in the NAFEM Window, closing at a rate of ₦1,582.94.