NGXASI stands at +31.29% (YTD); Naira depreciated by 0.10% to close at N1,309.88

April 25, 2024/Futureview Research

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Bulls resurfaced in the Nigerian Equities market, halting the bearish momentum as the NGX All-Share Index gained 5 basis points by the close of the day, reaching 98,169.30 points compared to the previous session’s 98,121.30 points.

The market’s positive performance was primarily driven by investors interest in stocks such as UBA (+0.44%), MTNN (+0.20%), TRANSCORP (+1.45%), OANDO (+2.20%) and 12 others.

As a result, the year-to-date return settled at 31.29%. Consequently, the overall market capitalization experienced a 0.05% increase, reaching N55.52 trillion, as investors gained N26.64 billion.

Market activity for the day was negative as volume and value traded declined by 24.90% and 31.95% to 297.20 million units and N6.52 billion, respectively.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.10% against US Dollar in the NAFEM Window, closing at a rate of ₦1,309.88.