The naira gains 0.2% and trades at 416.17 naira per dollar in the spot market


By Dipo Olowookere

This was another 0.13% growth on the floor of the Nigerian Exchange (NGX) Limited on Thursday as investors stepped up demand for local equities, although market breadth remained negative.

Business post reports that the exchange ended the trading session with 30 price losers and 14 price winners, but bargain hunting in Okomu Oil, FBN Holdings and others ensured a rally in Nigerian stocks.

According to data collected from the stock market, the consumer goods counter fell 1.57%, the banking index fell 1.30%, the industrial goods space fell 0.03%, but the sector insurance rose 0.35%, while the flat energy sector closed.

At the close of trading, the All-Share Index (ASI) appreciated by 61.00 points to 46,965.48 points from 46,904.48 points, while the market capitalization improved by 32 billion. to 25,311 billion naira from 25,279 billion naira.

During the session, a total of 256.0 million shares worth N3.7 billion were traded in 4,227 trades, compared to 201.3 million shares worth 2, 6 billion naira traded in 4,017 transactions the previous day, indicating an increase in trading volume of 27.20%. , an increase in market value of 39.66% and an increase in the number of transactions of 5.23%.

Fidelity Bank ended the session with the highest trades in terms of volume, as it sold 77.4 million shares worth N242.3 million, followed by UAC Nigeria with 17.0 million of shares worth N198.7 million.

Chams traded 15.5 million shares worth N3.2 million, Zenith Bank traded 15.3 million shares worth N343.4 million, while Access Holdings traded 15.2 million shares worth N149.9 million.

As for the Price Movement Index, Meyer recorded the largest price increase yesterday as its value increased by 10.00% to 66 kobo.

Axa Mansard rose 9.72% to N2.37, FBN Holdings rose 6.90% to N12.40, Courteville rose 5.66% to 56 kobo, Okomu Oil rose 4 .32% at 149.70N.

On the other hand, Northern Nigeria Flour Mills suffered the heaviest loss as they were down 10.00% during the session to trade at N9.00.

Neimeth depreciated 9.55% to 1.42N, Berger Paints fell 9.33% to 6.80N, RT Briscoe fell 9.23% to 59 kobo, while Nigerian Breweries lost 9.10% to sell at N40.45.

Previous Biden invokes Cold War status to increase supply of critical minerals
Next Fund liquidation was the hallmark of grain markets today | Friday, April 1, 2022