—NGXASI stands at +33.48% (YTD); Naira depreciated by 0.57% to close at N1,523.85

July 9, 2024/Futureview Research

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EQUITIES MARKET:

Bears dominate the Nigerian Equities market at the end of the session today, prolonging the downward trend, in the previous trading session as the NGX All-Share Index lost 20 basis points, closing at 99,805.95 points from 100,006.79 points in the previous session.

The market’s negative performance was primarily driven by selling pressure in stocks such as AFRIPRUD (-10.00%), GTCO (-4.21%), ETI (-3.86%), UBA (-2.74%), FBNH (-1.75%), ACCESSCORP (-1.28%), OANDO (-0.86%), TRANSCORP (-0.41%), ZENITHBANK (-0.40%) and 19 others.

Consequently, the year-to-date return settled to 33.48%. Also, the overall market capitalization closed at N37.34 trillion, as investor’s wealth decreased by N113.49 billion.

Market activity for the day was mixed as volume traded decreased by 38.74% to 422.69 million units while value traded increased by 635.03% to N53.97billion.

We expect the equities market to trade mixed in the coming session.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.57% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,523.85