L – R Chief Executive Officer, NGX Regulation Limited (NGX RegCo), Mr. Olufemi Shobanjo; Chief Executive Officer, Nigerian Exchange Limited (NGX), Mr. Jude Chiemeka; Group Managing Director/CEO, NGX Group, Mr. Temi Popoola; Group Chief Executive Officer, FCMB Group, Mr. Ladi Balogun; Executive Director, Coverage and Investment, FCMB Group, Mr Femi Badejo and Executive Director/Group Chief Operating Officer, FCMB Group, Mr. Gbolahan Joshua during FCMB Group Facts Behind the Offer Presentation at NGX on Tuesday in Lagos. Image Credit: NGX
—NGXASI stands at +30.84% (YTD); Naira depreciated by 0.04% to close at N1,612.12
July 30, 2024/Futureview Research
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EQUITIES MARKET:
Bears continued the losing streak in the local bourse as The NGX All-Share Index lost 31 basis point, closing at 97,830.65 points from 98,132.15 points in the previous session.
The market’s negative performance was primarily driven by profit taking in stocks such as UBA (-5.26%), GUINESS (-4.72%), NB (-4.76%), FBNH (-2.20%), DANGSUGAR (-0.93%) TRANSCORP (-0.85%), ACCESSCORP (-0.81%), GTCO (-0.11%) and 11 others.
Consequently, the year-to-date return settled to 30.84%. Also, the overall market capitalization closed at N55.55 trillion, as investor’s wealth decreased by N171.18 billion.
Market activity for the day was mixed as volume traded increased by 5.34% to 399.39 billion units while the value traded decreased by 8.11% to N8.00 billion respectively.
We expect the equities market to trade positive in the coming session.
CURRENCY MARKET:
The Nigerian Naira appreciated by 0.04% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,612.12
