NGXASI stands at +32.00% (YTD); Naira appreciated by 3.30% to close at N1,354.21

May 6, 2024/Fututreview Research

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EQUITIES MARKET:

There was a bearish start to the trading week on the Nigerian Exchange as the NGX All-Share Index declined by 89 basis points, closing at 98,703.68 points, up from the previous session’s 99,587.25 points.

The market’s negative performance was primarily driven by selling pressure in stocks such as AIRTELAFRI (-10.00%), STANBIC (-2.80%), TRANSCORP (-3.55%), NB (-4.30 %), and 14 others.

As a result, the year-to-date return settled at 32.00%. Also, the overall market capitalization experienced a 0.89% decrease, reaching N55.82 trillion, as investors lost N499.71 billion.

Market activity for the day was mixed as volume traded declined by 5.56% to 421.73 million units while value traded increased by 26.10% to N8.95 billion, respectively.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 3.30% against US Dollar in the NAFEM Window, closing at a rate of ₦1,354.21.