NGXASI stands at +32.08% (YTD); Naira depreciated by 0.84% to close at N1,402.67

May 2, 2024/Futureview Research

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EQUITIES MARKET:

Bulls held sway in the domestic bourse in today’s trading, extending its’ positive close as the NGX All-Share Index gained 55 basis points by the close of the day, reaching 98,762.78 points compared to the previous session’s 98,225.63 points.

The market’s positive performance was primarily driven by investor’s interest in stocks such as ACCESSCORP (+3.86%), DANGSUGAR (+9.90%), FBNH (+4.60%), ZENITHBANK (+2.02%), GTCO (+7.03%) and 24 others.

As a result, the year-to-date return settled at 32.08%. Also, the overall market capitalization experienced a 0.55% increase, reaching N55.86 trillion, as investors gained N303.79 billion.

Market activity for the day was mixed as volume traded increased by 20.46% to 665.20 million units while value traded declined by 62.86% to N5.54 billion, respectively.

We expect the equities market to trade mixed in the coming sessions.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.84% against US Dollar in the NAFEM Window, closing at a rate of ₦1,402.67.