Connect with us

Business

NGX sheds N56bn as investors sell off banking stocks

Published

on

Losses in Teir-one banking stocks on Friday pushed the market indices into a negative terrain, making investors to lose N56 billion.

Specifically, sell-offs in the stocks of Guaranty Trust Holding Company (GTCO), Zenith Bank, FBN Holdings, Fidelity Bank, Wema Bank, as well as Nestle and African Prudential, among other declined equities, brought the market performance down.

Accordingly, the market capitalisation which opened at N56.479 trillion, lost N56 billion or 0.10 per cent to close at N56.423 trillion.

Consequently, the All-Share Index lost 0.10 per cent or 100 points, to settle at 99,743.05, compared to 99,842.94 recorded in the previous session.

Market breadth also closed negative with 26 laggards and 23 leaders on the floor of the Exchange.

On the gainers’ log, International Breweries led by 10 per cent to close at N4.40, Thomas Wyatt followed by 9.95 per cent to close at N2.10, Chams gained 9.86 per cent to close at N2.34 per share.

Champion also rose by 9.83 per cent to close at N3.91, while John Holt advanced by 9.66 per cent to close at N2.61 per share.

Conversely, Multiverse led the losers’ log by 9.68 per cent to close at N11.20, RT Briscoe trailed by 7.46 per cent to close at 62k per share.

Sunu Assurances shed 6.25 per cent to close at N1.20, NEM Insurance declined by 5.95 per cent to close at N7.90 and Fidelity Bank dropped 4.81 per cent to close at N9.90 per share.

Meanwhile, analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 55.20 per cent.

Investors traded 617.22 million shares valued at N11.35 billion in 9,273 deals, as against 1.3 million shares valued at N25.33 billion in 8,364 deals that exchanged hands on Thursday.

FBN Holdings led the activity log in volume and value with 207.91 million shares worth N4.57 billion, GTCO followed by 58.55 million shares valued at N2.6 billion.

Veritas Kapital sold 57.59 million shares worth N55.20 million, AIICO Insurance traded 46.83 million shares valued at N45.17 million and Fidelity Bank transacted 38.44 million shares worth N392.17 million.

Business

Naira rises to ₦1,530 per dollar in parallel market

Published

on

Last Updated on July 6, 2024 by Fellow Press

The Naira has appreciated in the parallel market to N1,530 per dollar from N1,535 per dollar on Thursday.

Similarly, the Naira appreciated to N1,509.67 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,509.67 per dollar from N1,520.24 per dollar on Thursday, indicating N10.57 appreciation for the naira.

The volume of dollars traded (turnover) in the market fell by 32.6 percent to $116.88 million from $173.51 million traded on Thursday.

Consequently, the margin between the parallel market and NAFEM rates widened to N20.33 per dollar from N14.76 per dollar on Thursday.

Continue Reading

Business

Naira falls to 1520 to a dollar in parallel market

Published

on

Last Updated on June 28, 2024 by Fellow Press

The Naira yesterday depreciated in the parallel market to N1,520 per dollar from N1,510 per dollar on Wednesday. Similarly, the Naira depreciated to N1,510.1 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,510.1 per dollar from N1,507.83 per dollar on Wednesday, indicating N2.27 depreciation for the naira. The volume of dollars traded (turnover) in the market rose by 62.8 percent to $287.21 million from $176.39 million traded Wednesday.

Consequently, the margin between the parallel market and NAFEM rates widened to N10 per dollar from N2.17 per dollar on Wednesday.

Continue Reading

Facebook

Trending