Bears Resurface as NGXASI Down by 18 bps, Investors Loss N102.55Bn

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–NGXASI stands at +32.56% (YTD); Naira appreciated by 0.66% to close at N1,476.12

June 3, 2024/Futureview Research

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The domestic bourse experienced a reversal last week’s bullish momentum to start the new week, as the day’s trading opened in the negative zone. The All-Share Index (NGXASI) gained shed 0.18% to close at 99,118.86 points from 99,300.38 points in the previous session.

The day’s negative performance was primarily driven by investors profit taking activities in stocks like ACCESSCORP (-0.29%), UBA (-1.35%), FIDELITYBK (-0.49%), FBNH (-4.69%) and 13 others.

Consequently, the year-to-date return settled at 32.56%. Similarly, the overall market capitalization decreased by 0.18% to close at N56.07 trillion as investor’s wealth declined by N102.55 billion.

Market activity for the day was negative as volume and value traded decreased by 19.45% and 38.92% to 349.59 million units and N5.24 billion, respectively.

We expect the market to trade mixed amidst investors profit taking actions.


The Nigerian Naira appreciated by 0.66% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,476.12.

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