NGXASI stands at +33.61% (YTD); Naira appreciated by 6.57% to close at N1,072.74

April 17, 2024/Futureview Research

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EQUITIES MARKET:

The Nigerian Equities market overturned the much-sustained bearish momentum to close today’s trading in the green region as the NGX All-Share Index gained 10 basis points by the close of the day, reaching 99,908.89 points compared to the previous session’s 99,808.34 points.

The market’s positive performance was primarily driven by price recovery in stocks such as ACCESSCORP (+2.65%), FBNH (+6.93%%), FIDELITYBK (+9.88%), TRANSCORP (+1.12%) and 13 others.

As a result, the year-to-date return settled at 33.61%. Consequently, the overall market capitalization experienced a 0.10% decline, reaching N56.50 trillion, as investors’ wealth grew by N57 billion.

Market activity for the day was negative as volume and value traded declined by 20.11% and 30.56% to 322.66 million units and N5.82 billion, respectively.

We expect bears to maintain hold on equities amidst fresh release of inflation data.

CURRENCY MARKET:

The Nigerian Naira appreciated by 6.57% against US Dollar in the NAFEM Window, closing at a rate of ₦1,072.74.