—–NGXASI stands at +33.19% (YTD); Naira depreciated by 0.21% to close at ₦1,605.74

March 6, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian equities market sustained its positive momentum from the previous day’s trading sessions as The NGX All-Share Index experienced an uptick of 40 basis points, settling the day at 99,591.64 from 99,190.46 previous session.

The market upward trend was primarily propelled by significant interest in TRANSCORP (+9.99%), FBNH (+9.95%), TRANSPOWER (+9.96%%) and 15 additional stocks.

Consequently, the year-to-date return increased to 33.19%. Similarly, the overall market capitalization increased by 0.40% to N56.31 trillion as investors’ fortune grew by N226.83 billion.

Market activity for the day was mixed as volume traded increased by 4.61% to 416.48 million units while value traded declined by 38.63% to N19.51 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.21% against US Dollar in the NAFEM Window, closing at a rate of ₦1,605.74.