–NGXASI stands at +33.47% (YTD); Naira depreciated by 1.92% to close at N1,561.98

July 10, 2024/Futureview Research

Click here to download the full report.

EQUITIES MARKET:

The Nigerian Equities market closed flat at the end of the session today, with a slight downward tilt as the NGX All-Share Index lost 0 basis points, closing at 99,802.08 points from 99,805.95 points in the previous session.

The market’s negative performance was primarily driven by selling pressure in stocks such as OANDO (-2.02%), UBA (-1.30%), ZENITHBANK (-1.20%), GTCO (-0.88%), FCMB (-0.65%), ACCESSCORP (-0.52%), and 16 others.

Consequently, the year-to-date return settled to 33.47%. Also, the overall market capitalization closed at N56.46trillion, as investor’s wealth decreased by N2.18 billion.

Market activity for the day was mixed as volume traded increased by 121.24% to 935.15 million units while value traded decreased by 77.96% to N11.89 billion.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 1.92% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,561.98