—NGXASI stands at +33.75% (YTD); Naira depreciated by 0.94% to close at N1,5023.85

July 8, 2024/Futureview Research

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EQUITIES MARKET:

Trading activities in the Nigerian Equities market opened negative at the beginning of the session today, extending the market’s bearish streak, in the previous trading session as the NGX All-Share Index lost 2 basis points, closing at 100,006.79 points from 100,022.03 points in the previous session.

The market’s negative performance was primarily driven by selling pressure in stocks such as TRANSCORP (-5.45%), WEMABANK (-1.42%), DANGSUGAR (-0.86%), FBNH (-0.65%), and 20 others.

Consequently, the year-to-date return settled to 33.75%. Also, the overall market capitalization closed at N37.41 trillion, as investor’s wealth decreased by N8.62 billion.

Market activity for the day was positive as volume and value traded increased by 67.20% and 18.98% to 689.98 million units and N7.17 billion respectfully.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.94% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,523.85