—– NGXASI stands at +39.65% (YTD); Naira appreciated by 1.80% to close at ₦1435.53

February 2, 2024/Futureview Research

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EQUITIES MARKET:

Bulls held sway as the Nigerian Equities Market closed the week’s trading in the north zone as the day’s session saw the benchmark NGX All-Share Index (NGXASI) advance by 157 basis points, closing at 104,421.23 points from 102,802.25 points in the previous session. 

The day’s positive performance was attributed to investors buying interest in major stocks like FBNH (+9.85%), NESTLE (+0.92%), GTCO (+2.09%), ACCESSCORP (+8.22%), TRANSCORP (+10.00%) and 56 other stocks.

Consequently, the year-to-date return increased to 39.65%. In the same vein, the overall market capitalization gained by 1.60% to ₦57.16 trillion, as investors gained ₦898.32 billion.

Market activity for the day was positive as volume and value traded increased by 9.58% and 93.13% to close at 943.51 billion units and ₦23.48 billion.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 1.80% against US Dollar in the NAFEM Window, closing at a rate of ₦1435.53.