—NGXASI stands at +34.50% (YTD); Naira appreciated by 6.05% to close at N1,500.32

July 22, 2024/Futureview Research

Click here to download the full report.

EQUITIES MARKET:

Bulls start off the trading week on a positive note in the Nigerian Equities market as the NGX All-Share Index gained 7 basis point, closing at 100,568.60 points from 100,503.21 points in the previous session.

The market’s positive performance was primarily driven by investor’s interest in stocks such as FIDELITYBK (+0.93%), GTCO (+0.11%), JBERGER (+5.71%), UBA (+0.88%), ZENITHBANK (+1.35%) and 18 others.

Consequently, the year-to-date return settled to 34.50%. Also, the overall market capitalization closed at N35.95 trillion, as investor’s wealth increased by N37.03 billion.

Market activity for the day was negative as volume and value traded decreased by 14.53% and 55.39% to 335.70 million units and N3.72 billion respectively.

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

CURRENCY MARKET:

The Nigerian Naira appreciated by 6.05% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,500.32