—NGXASI stands at +33.78% (YTD); Naira appreciated by 0.32% to close at N1,58.65

July 17, 2024/Futureview Research

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EQUITIES MARKET:

Bears resurfaced in the Nigerian Equities market at the end of the session today, snapping the 3-day winning streak in the previous trading session as the NGX All-Share Index lost 4 basis point, closing at 100,032.32 points from 100,075.59 points in the previous session.

The market’s negative performance was primarily driven by selloffs in stocks such as MTNN (-3.40%), MANSARD (-2.50%), WEMABANK (-2.26%), DANGSUGAR (-1.44%), GTCO (-0.22%), and 10 others.

Consequently, the year-to-date return settled to 33.78%. Also, the overall market capitalization closed at N56.65 trillion, as investor’s wealth increased by N24.51 billion.

Market activity for the day was positive as volume and value traded increased by 198.40% and 35.71% to 1.09 billion units and N10.18 billion respectively.

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

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.32% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,581.65