–NGXASI stands at +33.03% (YTD); Naira depreciated by 0.47% to close at N1,554.65

July 11, 2024/Futureview Research

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EQUITIES MARKET:

Bears maintained dominance as the Nigerian equities market continued the previous day’s session in the south territory. The NGX All-Share Index had a downtick of 33 basis points, closing at 99,468.90 points from 99,802.08 points in the previous session.

The market’s negative performance was primarily driven by selling pressure in stocks such as SEPLAT (- 8.30%), TRANSCORP (-3.63%), OANDO (-2.94%), ACCESSCORP (-1.04%), DANGSUGAR (-0.95%), and 16 others.

Consequently, the year-to-date return settled to 33.03%. Also, the overall market capitalization closed at N56.27trillion, as investor’s wealth decreased by N188.47 billion.

Market activity for the day was Negative as volume and value traded decreased by 68.21% and 54.20% to 296.73 million units and N5.45 billion.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.47% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,554.65