—NGXASI stands at +34.23% (YTD); Naira depreciated by 2.45% to close at N1,586.71

July 24, 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 lost 12 basis point, closing at 100,365.17 points from 100,486.12 points in the previous session.

The market’s negative performance was primarily driven by investor’s interest in stocks such as UBA (-5.07%), DANGSUGAR (-3.70%), FBNH (-1.60%), ACCESSCORP (-1.03%), TRANSCORP (-0.42%), OANDO (-0.28%) and 15 others.

Consequently, the year-to-date return settled to 34.23%. Also, the overall market capitalization closed at N56.83 trillion, as investor’s wealth decreased by N56.83 billion.

Market activity for the day was positive as volume and value traded increased by 77.22% and 137.35% to 497.84 million units and N8.61 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 ₦1,586.72