—–NGXASI stands at +36.95% (YTD); Naira appreciated by 1.01% to ₦891.90

January 26, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities Market extended its bullish momentum, concluding the week’s trading on a positive note. Today’s session saw the benchmark NGX All-Share Index (NGXASI) experience an uptick of 25 basis points, rising from 102,149.93 points to 102,401.88 points.  This surge represents a new milestone as the index reached yet another all-time high, reflecting positive market sentiment.

The day’s positive performance was attributed to investors’ buying activities in major stocks like OANDO (+2.03%), DANGSUGAR (+3.31%), UBA (+0.66%), GTCO (+0.34%), ZENITHBANK (+0.35%) and 41 other stocks.

Consequently, the year-to-date return surged to 36.95%. In the same vein, the overall market capitalization increased by 0.25% to ₦56.04 trillion, marking a new milestone as investors fortune grew by ₦137.88 billion.

Market activity for the day was mixed as volume traded increased by 3.01% to close at 519.39 million units, while value traded declined by 14.09% to close at N8.85 billion.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 1.01% against the US Dollar in the NAFEM Window, closing at a rate of ₦891.90/USD.