—-NGXASI stands at +39.27% (YTD); Naira appreciated by 3.11% to close at N1,408.04.

March 25, 2024/Futureview Research

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EQUITIES MARKET:

Bears resurface in the Nigerian Exchange as the market closed in the red, opening the week’s trading in the negative zone. The NGX All-Share Index lost 49 basis points by the close of the day, reaching 104,136.35 points compared to the previous session’s 104,647.37 points.

The market’s negative performance was driven by investors’ profit taking activities in major stocks such as DANGSUGAR (-10.00%) ACCESSCORP (-1.67%), FBNH (-2.07%), GTCO (-0.92%), ZENITHBANK (-1.13%) and 25 additional stocks.

As a result, the year-to-date return decreased to 39.27%. Similarly, the overall market capitalization experienced a 0.49% downtick, reaching N58.88 trillion, as investors lost N288.93 billion.

Market activity for the day was negative as volume and value traded decreased by 39.27% and 20.04% to 306.82 million units and N11.38 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 3.11% against US Dollar in the NAFEM Window, closing at a rate of ₦1,408.04.