——NGXASI stands at +13.20% (YTD)

January 15, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian Equity Market opened the trading week on a positive note as bullish activity continued, propelling the NGX All-Share Index (NGXASI) to a new high. With a 192 basis points increase, the benchmark NGXASI closed at 84,640.89, reflecting improved investor sentiment and signaling a positive outlook for Nigerian equities.

The day’s positive performance was attributed to investors’ buying activities in major stocks like ACCESSCORP (+2.14%), DANGSUGAR (+8.50%), FCMB (+3.64%), NASCON (+8.33%), TRANSCORP (+4.69%), ZENITHBANK (+3.60%) and 62 other stocks.

Consequently, the year-to-date return increased to 13.20%. In the same vein, the overall market capitalization increased by 1.92% to ₦46.32 trillion as equity investors gained ₦874.41 billion.

Market activity for the day was positive as volume and value traded increased by 34.44% and 21.25% to close at 807.51 million units and N11.03 billion respectively.

We expect the equities market to trade mixed this week.