—-NGXASI stands at +39.33% (YTD); Naira appreciated by 1.23% to close at N1,262.85

April 3, 2024/Futureview Research

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EQUITIES MARKET:

Bears sustained the negative momentum in the domestic bourse as the day’s trading closed in the red region today. The NGX All-Share Index shed 32 basis points by the close of the day, reaching 104,181.32 points compared to the previous session’s 104,518.14 points.

The market’s negative performance was primarily driven by profit taking activities in Tier 1 banks such as ACCESSCORP (-4.20%), GTCO (-1.23%), UBA (-1.79%), ZENITHBANK (-1.23%) and 28 additional stocks.

As a result, the year-to-date return decreased to 39.33%. Consequently, the overall market capitalization experienced a 0.32% decline, reaching N58.90 trillion, as investors lost N190.45 billion.

Market activity for the day was negative as volume and value traded declined by 25.75% and 39.04% to 405.03 million units and N8.91 billion, respectively.

We expect the equities market to trade mixed this week.

CURRENCY MARKET:

The Nigerian Naira appreciated by 1.23% against US Dollar in the NAFEM Window, closing at a rate of ₦1,262.85.