—–NGXASI stands at +39.10% (YTD); Naira depreciated by 0.78% to close at ₦1,615.94

March 13, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian market sustained its bullish run as it ended the day’s trading on a positive note. The NGX All-Share Index increased by 47 basis points by the close of the day, reaching 104,007.36 points compared to the previous session’s 103,524.44 points.

The market’s positive performance was driven by increases in the prices of key stocks such as ETI (+10.00%), ACCESSCORP (+2.45%), GTCO (+3.26%), MTNN (+2.26%), UBA (+2.37%), and 27additional stocks.

As a result, the year-to-date return rose to 39.10%. Similarly, the overall market capitalization experienced a 0.47% uptick, reaching N58.80 trillion, as investors saw their wealth grow by N273.02 billion.

Market activity for the day was negative as volume and value traded declined  by 42.21% and 35.93% to 326.95 million units and N5.61 billion, respectively.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.78% against US Dollar in the NAFEM Window, closing at a rate of ₦1,615.94.