—NGXASI stands at +38.33% (YTD); Naira appreciated by 0.32% to close at N1,251.05

April 5, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities market concluded the trading week on a bearish note as the NGX All-Share Index shed 29 basis points by the close of the day, reaching 103,437.67 points compared to the previous session’s 103,736.08 points.

The market’s negative performance was primarily driven by profit taking activities in top stocks such as ACCESSCORP (-1.74%), GTCO (-2.04%), FBNH (-4.69%), ZENITHBANK (-1.62%), MTNN (-0.87%) and 25 others.

As a result, the year-to-date return settled at 38.33%. Consequently, the overall market capitalization experienced a 0.27% decline, reaching N58.50 trillion, as investors lost N155.91 billion.

Market activity for the day was positive as volume and value traded advanced by 359.58% and 19.75% to 2.24 billion units and N18.73 billion, respectively.

We expect bears to maintain hold on equities in the absence of any positive catalyst.

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.32% against US Dollar in the NAFEM Window, closing at a rate of ₦1,251.05.