—-NGXASI stands at +33.18% (YTD); Naira appreciated by 0.16% to close at N1,400.40

May 3, 2024/Futureview Research

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EQUITIES MARKET:

Bulls maintained dominance in the domestic stock exchange during today’s trading session, driving the market into positive territory as the NGX All-Share Index rose by 83 basis points, closing at 99,587.25 points, up from the previous session’s 98,762.78 points.

The market’s positive performance was primarily driven by investor’s interest in stocks such as DANGSUGAR (+9.94%), FBNH (+8.00%), ZENITHBANK (+5.65%), GTCO (+8.86%), UBA (+3.20%) and 24 others.

As a result, the year-to-date return settled at 33.18%. Also, the overall market capitalization experienced a 0.83% increase, reaching N56.32 trillion, as investors gained N466.30 billion.

Market activity for the day was mixed as volume traded declined by 32.87% to 446.57 million units while value traded increased by 28.14% to N7.1 billion, respectively.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.16% against US Dollar in the NAFEM Window, closing at a rate of ₦1,400.40.