Trading activities in the Nigerian Equities market closed negative at the end of the trading session today, overturning the market’s bullish stand in the previous trading session as the NGX All-Share Index lost 24 basis points, closing at 100,063.32 points from 100,299.48 points in the previous session.

The market’s negative performance was primarily driven by selling pressure in stocks such as MTN Nigeria (-6.54%), Wema Bank (-0.10%), Considated Hallmark Insurance PLC (-3.09%), WAPCO (-1.41%) and 21 others.

Consequently, the year-to-date return settled to 33.82%. Also, the overall market capitalization closed at N37.52 trillion, as investor’s wealth decreased by N133.59 billion.

Market activity for the day was positive as volume and value traded increased by 152.37% and 164.30% to 863.58 million units and N12.56 billion respectfully.

We foresee more mixed sessions ahead, with investors leaning towards fundamentally robust stocks as they await the release of H1 financial results to impact the market.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.50% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,520.24.