—–NGXASI stands at +36.56% (YTD); Naira depreciated by 0.99% to close at ₦1433.89

February 6, 2024/Futureview Research

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EQUITIES MARKET:

Bears held sway as the Nigerian Equities Market closed the day’s trading in the red region as the day’s session saw the benchmark NGX All-Share Index (NGXASI) decline by 150 basis points, closing at 102,108.05 points from 103,659.81 points in the previous session. 

The day’s negative performance was attributed to investors profit taking activities in major stocks like GUINNESS (-9.73%), OANDO (-8.33%), BUACEMENT (-10.00%), ACCESSCORP (-1.92%), GTCO (-1.48%) and 41 other stocks.

Consequently, the year-to-date return decreased to 36.56%. In the same vein, the overall market capitalization declined by 1.50% to ₦55.87 trillion, as investors lost ₦849.10 billion.

Market activity for the day was negative as volume and value traded decreased by 41.28% and 60.70% to close at 494.19 billion units and ₦7.59 billion.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.99% against US Dollar in the NAFEM Window, closing at a rate of ₦1433.89.