—-NGXASI stands at +33.71% (YTD); Naira appreciated by 0.89% to close at ₦1,595.11

February 29, 2024/Futureview Research

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EQUITIES MARKET:

Bulls resurface as the Nigerian equities market halted its negative trading to close today’s trading session in the green region.  The NGX All-Share Index shed 72 basis points, ending the day at 99,980.30 from 99,266.02.

The day’s positive performance was due to rallying witnessed in major stocks, including UBA (+10.00%), OANDO (+9.60%), ZENITHBANK (+7.86%), GTCO (+10.00%), DANGSUGAR (+6.09%), and 32 additional stocks.

Consequently, the year-to-date return increased to 33.71%. Similarly, the overall market capitalization increased by 0.72% to ₦54.71 trillion, as investors gained ₦390.43 billion.

Market activity for the day was positive as volume and value traded increased by 37.03% and 49.27% to 542.95 million units and ₦8.69 billion, respectively.

We anticipate a positive conclusion to the trading week amidst improved investors sentiment.

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.89% against US Dollar in the NAFEM Window, closing at a rate of ₦1,595.11.