——- NGXASI stands at +35.28% (YTD); Naira appreciated by 1.82% to close at ₦1455.59

January 31, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities Market closed in the red region as the day’s session saw the benchmark NGX All-Share Index (NGXASI) declined by 190 basis points, closing at 101,154.45 points from 103,110.15 points in the previous session. 

The day’s negative performance was attributed to profit taking activities in major stocks like UBA (-9.96%), OANDO (-6.43%), GTCO (-9.76%), ACCESSCORP (-9.92%), ZENITHBANK (-10.00%) and 52 other stocks.

Consequently, the year-to-date return declined to 35.28%. In the same vein, the overall market capitalization decreased by 1.89%% to ₦55.36 trillion, as investors lost ₦1.06 trillion.

Market activity for the day was positive as value and volume traded increased by 102.88% and 15.44% to close at ₦22.49 billion and 749.13 billion units.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 1.82% against US Dollar in the NAFEM Window, closing at a rate of ₦1455.59.