—–NGXASI stands at +39.97% (YTD); Naira appreciated by 1.86% to close at N1,572.86

March 18, 2024/Futureview Research

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EQUITIES MARKET:

Bears resurface in the Nigerian Exchange as the market closed in the red zone. The NGX All-Share Index lost 40 basis points by the close of the day, reaching 104,663.34 points compared to the previous session’s 105,085.25 points.

The market’s positive performance was driven by price appreciation in key stocks such as TRANSPOWER (+0.79%), FBNH (+8.92%), UBA (+4.73%), STANBIC (+7.51%) and 23 additional stocks.

As a result, the year-to-date return decreased to 39.99%. Similarly, the overall market capitalization experienced a 0.40% downtick, reaching N59.17 trillion, as investors lost N238.55 billion.

Market activity for the day was positive as volume and value traded advanced by 32.34% and 115.75% to 287.45 million units and N10.8 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 1.86% against US Dollar in the NAFEM Window, closing at a rate of ₦1,572.86.