Bears Hold Sway as NGXASI Down by 15 bps; Investors Loss N84.58Bn

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—NGXASI stands at +32.58% (YTD); Naira appreciated by 0.48% to close at N1,481.49

June 6, 2024/Futureview Research

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Bears re-emerged the Nigerian Exchange, as the market overturned the previous day’s positive trading to close in the red zone today. The All-Share Index (NGXASI) shed 0.15% to close at 99,134.85 points from 99,284.38 points in the previous session.

The day’s negative performance was primarily driven by investors profit taking in stocks like TRANSCORP (-3.29%), STERLINGNG (-1.50%), FIDELITYBK (-9.72%), NB (-2.45%) and 14 others.

Consequently, the year-to-date return settled at 32.58%. Similarly, the overall market capitalization decreased by 0.15% to close at N56.08 trillion as investors lost N84.58 billion.

Market activity for the day was positive as volume and value traded increased by 0.54% and 10.74% to 309.81 million units and N5.39 billion, respectively.

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


The Nigerian Naira appreciated by 0.48% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,481.49.

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