–NGXASI stands at +33.24% (YTD); Naira appreciated by 0.67% to close at N1,473.66

June 11, 2024/Futureview Research

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EQUITIES MARKET:

Bears resurfaced in the Nigerian Equities market, overturning yesterday’s bullish close as the All-Share Index (NGXASI) depreciated by 0.16% to close at 99,630.51 points from 99,793.71 points in the previous session.

The day’s Negative performance was primarily driven by selling pressure in stocks like, MTNN (-7.13%), ETI (-2.47%), TRANSCORP (-2.27%), WEMABANK (-0.73%), FBNH (-0.43%), OANDO (-0.34%) and 13 others.

Consequently, the year-to-date return rose to 33.24%. Similarly, the overall market capitalization decreased by 0.16% to close at N56.35 trillion as investors lost N92.32 billion.

Market activity for the day was mixed as volume traded decreased by 11.89% to 848.97 units while value traded increased by 22.62% to N16.55 billion, respectively.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.67% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,473.66.