—-NGXASI stands at +36.47% (YTD); Naira appreciated by 0.58% to close at ₦1,617.96

March 11, 2024/Futureview Research

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EQUITIES MARKET:

The domestic bourse opened the trading week in positive territory as bulls continued to dominate the market, extending the gains from the previous week. The NGX All-Share Index increased by 70 basis points by the close of the session, reaching 102,044.84 points compared to the previous session’s 101,330.85 points.

The market’s positive performance was driven by increases in the prices of key stocks such as ACCESSCORP (+1.74%), DANGSUGAR (+9.97%), NASCON (+9.92%), TRANSCORP (+4.71%), ZENITHBANK (+0.15%), GTCO (+1.95%), and 28 additional stocks.

As a result, the year-to-date return rose to 36.47%. In a similar vein, the overall market capitalization experienced a 0.70% uptick, reaching N57.69 trillion, as investors saw their wealth grow by N403.69 billion.

Market activity for the day was mixed as volume traded advanced by 22.00% to 436.90 million units while value traded declined by 13.98% to N17.09 billion, respectively.

We expect the market to sustain its bullish trend in the new week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.58% against US Dollar in the NAFEM Window, closing at a rate of ₦1,617.96.