—–NGXASI stands at +40.54% (YTD); Naira appreciated by 0.39% to close at N1602.75.

March 15, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian Exchange extended its bullish momentum as it closed the week’s trading in the green zone. The NGX All-Share Index gained 99 basis points by the close of the day, reaching 105,085.25 points compared to the previous session’s 104,056.21 points.

The market’s positive performance was driven by price appreciation in key stocks such as GTCO (+9.99%), FBNH (+5.71%), MTNN (+7.98%), OANDO (+3.60%) and 21 additional stocks.

As a result, the year-to-date return increased to 40.54%. Similarly, the overall market capitalization experienced a 0.99% uptick, reaching N59.41 trillion, as investors saw their wealth grow by N581.83 billion.

Market activity for the day was negative as volume and value traded declined by 4.02% and 32.43% to 217.21 million units and N5 billion, respectively.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.39% against US Dollar in the NAFEM Window, closing at a rate of ₦1,602.75.