—–NGXASI stands at +39.95% (YTD); Naira appreciated by 4.09% to close at N1,431.49

March 22, 2024/Futureview Research

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EQUITIES MARKET:

Bulls forge ahead in the Nigerian Exchange as the market sustained its positive momentum to end the week’s trading in the green region. The NGX All-Share Index gained 25 basis points by the close of the day, reaching 104,647.37 points compared to the previous session’s 104,387.47 points.

The market’s negative performance was driven by investors interest in Tier 1 banks such as ACCESSCORP (+1.69%), FBNH (+2.25%), GTCO (+3.28%), ZENITHBANK (+1.27%) and 30 additional stocks.

As a result, the year-to-date return increased to 39.95%. Similarly, the overall market capitalization experienced a 0.25% uptick, reaching N59.17 trillion, as investors gained N146.95 billion.

Market activity for the day was positive as volume and value traded increased by 49.99% and 53.32% to 505.19 million units and N14.23 billion, respectively.

We expect the equities market to trade mixed the coming week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 4.09% against US Dollar in the NAFEM Window, closing at a rate of ₦1,431.49.