–NGXASI stands at +32.77% (YTD); Naira depreciated by 11.66% to close at N1,484.75

May 30, 2024/Futureview Research

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EQUITIES MARKET:

The domestic bourse maintained the Bull Run as the day’s trading closed in the green. The All-Share Index (NGXASI) gained 0.46% to close at 99,276.03 points from 98,818.04 points in the previous session.

The positive performance was primarily driven by investors interest in stocks like SEPLAT (+10.00%), NEM (+9.72%), GTCO (+2.05%), ZENITHBANK (+1.52%), ACCESSCORP (+0.29%) and 27 others.

Consequently, the year-to-date return settled at 32.77%. Similarly, the overall market capitalization increased by 0.46% to close at N56.15 trillion as investor’s wealth grew by N259.08 billion.

Market activity for the day was mixed as volume traded decreased by 40.32% to 309.71 units while the value traded increased by 14.04% to 5.43 billion.

We expect bulls to extend dominance in the coming session barring any negative catalyst.

CURRENCY MARKET:

The Nigerian Naira depreciated by 11.66% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,484.75.