Bulls Re-Enter as NGXASI Up 24 bps, Investors GAIN N132.01Bn

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—NGXASI stands at +32.78% (YTD); Naira depreciated by 0.79% to close at N1,488.60

June 5, 2024/Futureview Research

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Bulls re-entered the Nigerian Exchange, as the market overturned the previous days’ negative trading to close in the green zone today. The All-Share Index (NGXASI) gained 0.24% to close at 99,284.38 points from 99,051.02 points in the previous session.

The day’s positive performance was primarily driven by investors interest in stocks like ZENITHBANK (+2.81%), STANBIC (+9.62%), FIDELITYBK (+8.00%), ETI (+4.76%) and 14 others.

Consequently, the year-to-date return rose to 32.78%. Similarly, the overall market capitalization increased by 0.24% to close at N56.16 trillion as investors gained N132.01 billion.

Market activity for the day was negative as volume and value traded declined by 11.30% and 36.49% to 308.14 million units and N4.86 billion, respectively.

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


The Nigerian Naira depreciated by 0.79% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,488.60.

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