—-NGXASI stands at +39.43% (YTD); Naira appreciated by 4.35% to close at N1,492.61

March 20, 2024/Futureview Research

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EQUITIES MARKET:

Bears persist in the Nigerian Exchange as the market sustained its negative momentum to end the day’s trading session in the red zone. The NGX All-Share Index shed 28 basis points by the close of the day, reaching 104,256.81 points compared to the previous session’s 104,553.31 points.

The market’s negative performance was driven by profit taking activities in key stocks such as ACCESSCORP (-0.22%), FBNH (-9.90%), TRANSCORP (-7.19%), ZENITHBANK (-0.26%) and 20 additional stocks.

As a result, the year-to-date return decreased to 39.43%. Similarly, the overall market capitalization experienced a 0.28% downtick, reaching N58.95 trillion, as investors lost N167.65 billion.

Market activity for the day was negative as volume and value traded declined by 2.73% and 9.92% to 298.65 million units and N6.84 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 4.35% against US Dollar in the NAFEM Window, closing at a rate of ₦1,492.61.