——-NGXASI stands at +26.43% (YTD); Naira depreciated by 0.04% to ₦902.45/(USD)

January 19, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities Market extended its bullish run to close the week’s trading in the green zone. The benchmark NGX All-Share Index (NGXASI) recorded a notable increase of 287 basis points in today’s session. The index increased from 91,896.97 points to 94,538.12 points, marking another all-time high.

The day’s positive performance was attributed to investors’ buying activities in major stocks like SEPLAT (+10.00%), BUACEMENT (+10.00%), DANGCEM (+9.98%), MTN (+0.69%), ACCESSCORP (+1.69%) and 31 other stocks.

Consequently, the year-to-date return surged to 26.43%. In the same vein, the overall market capitalization increased by 2.87% to ₦51.74 trillion, marking a new milestone as investors fortune grew by ₦1.4 trillion.

Market activity for the day was negative as value and volume traded declined by 22.02% and 25.95% to close at N15.04 billion and 844.49 million units respectively.

We expect bulls to maintain dominance in the market in the coming week in the absence of any negative catalyst.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.04% against the US Dollar in the NAFEM Window, closing at a rate of ₦902.45/USD.