—– NGXASI stands at +32.20% (YTD); Naira appreciated by 0.91% to close at ₦1,534.19

March 4, 2024/Futureview Research

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EQUITIES MARKET:

The domestic bourse opened the week with an upturn as bulls outpaced bears in market activity. The NGX All-Share Index experienced an uptick of 10 basis points, settling the week at 98,847.89 from 98,751.98 previous session.

The market upward trend was primarily propelled by significant interest in TRANSCORP (+9.94%), PZ (+9.93%), GEREGU (+2.35%), TRANSPOWER (+10.00%), BUACEMENT (+4.44%) and 20 additional stocks.

Consequently, the year-to-date return increased to 32.20%. Similarly, the overall market capitalization increased by 3.43% to N55.89 trillion, amidst Transcorp Power’s introduction to the NGX.

Market activity for the day was positive as volume and value traded advanced by 16.87% and 193.76% to 429.64 million units and N19.92 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.91% against US Dollar in the NAFEM Window, closing at a rate of ₦1,534.19.