Bulls Hold Sway as NGXASI Up by 35bps; Investors Gain N193.69Bn

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—-NGXASI stands at +32.65% (YTD); Naira depreciated by 4.45% to close at ₦1,602.43

March 5, 2024/Futureview Research

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The Nigerian equities market sustained its positive momentum from the previous day as The NGX All-Share Index experienced an uptick of 35 basis points, settling the day at 99,190.46 from 98,847.89 previous session.

The market upward trend was primarily propelled by significant interest in TRANSCORP (+10.00%), ZENITHBANK (+0.14%), FBNH (+9.88%), TRANSPOWER (+10.00%), GTCO (+0.48%) and 5 additional stocks.

Consequently, the year-to-date return increased to 32.65%. Similarly, the overall market capitalization increased by 0.35% to N56.08 trillion as investors’ fortune grew by N193.69 billion.

Market activity for the day was mixed as volume traded declined by 7.33% to 398.13 million units while value traded advanced by 59.55% to N31.78 billion, respectively.

We expect the equities market to trade mixed this week.


The Nigerian Naira depreciated by 4.45% against US Dollar in the NAFEM Window, closing at a rate of ₦1,602.43.

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