—-NGXASI stands at +32.70% (YTD); Naira depreciated by 0.17% to close at N1,483.99

June 7, 2024/Futureview Research

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EQUITIES MARKET:

The bulls edged out the bears in a tepid trading session in the domestic bourse closing the week’s trading in the green, causing the All-Share Index (NGXASI) to appreciate by 0.09% to close at 99,221.14 points from 99,134.85 points in the previous session.

The day’s positive performance was primarily driven by investor’s interest in stocks like, ETI (+8.41%), HONYFLOUR (+5.00%), OANDO (+3.91%), FBNH (+1.10%), ZENITHBANK (+0.76%) and 18 others.

Consequently, the year-to-date return settled at 32.70%. Similarly, the overall market capitalization increased by 0.09% to close at N56.13 trillion as investors gained N49.10 billion.

Market activity for the day was positive as volume and value traded increased by 25.24% and 36.55% to 388.02 million units and N7.35 billion, respectively.

We expect the market to trade mixed amidst investors profit taking actions in the subsequent trading sessions.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.17% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,483.99.