—-NGXASI stands at +38.63% (YTD); Naira appreciated by 1.09% to close at ₦1419.86

February 5, 2024/Futureview Research

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EQUITIES MARKET:

Bears rebound as the Nigerian Equities Market opened the week’s trading in the red region as the day’s session saw the benchmark NGX All-Share Index (NGXASI) decline by 73 basis points, closing at 103,659.81 points from 104,421.23 points in the previous session. 

The day’s negative performance was attributed to investors profit taking activities in major stocks like FBNH (-0.76%), GTCO (-2.53%), MTNN (-5.52%), ACCESSCORP (-3.70%), TRANSCORP (-4.22%) and 23 other stocks.

Consequently, the year-to-date return decreased to 38.63%. In the same vein, the overall market capitalization declined by 0.76% to ₦56.72 trillion, as investors lost ₦436.97 billion.

Market activity for the day was negative as volume and value traded decreased by 10.81% and 17.67% to close at 841.55 billion units and ₦19.33 billion.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 1.09% against US Dollar in the NAFEM Window, closing at a rate of ₦1419.86.