NGXASI stands at +33.77% (YTD); Naira appreciated by 0.70% to close at N1,509.67

July 5, 2024/Futureview Research

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EQUITIES MARKET:

Trading activities in the Nigerian Equities market closed negative at the end of the trading session today, extending the market’s bearish streak, in the previous trading session as the NGX All-Share Index lost 4 basis points, closing at 100,022.03 points from 100,063.32 points in the previous session.

The market’s negative performance was primarily driven by selling pressure in stocks such as ACCESSCORP (-3.03%), CUSTODIAN (-4.52%), DANGSUGAR (-2.41%), FBNH (-3.76%), MANSARD (-1.82%) and 21 others.

Consequently, the year-to-date return settled to 33.77%. Also, the overall market capitalization closed at N56.58 trillion, as investor’s wealth decreased by N23.23 billion.

Market activity for the day was negative as volume and value traded decreased by 52.21% and 52.06% to 412.66 million units and N6.02 billion respectfully.

We foresee more mixed sessions ahead, with investors leaning towards fundamentally robust stocks as they await the release of H1 financial results to impact the market.

CURRENCY MARKET:

The Nigerian Naira appreciated by 0.70% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,509.67