…CBN injects $325.5m into retail market***
The Nigerian Stock Exchange (NSE) on Friday moved 310.56 million shares worth N4.99 billion in 2,825 deals. This was against 147.09 million shares valued at N2.89 billion traded in 2,347 deals on Thursday. The crucial market indicators recorded marginal loss, dropping by 0.03 per cent
Guaranty Trust Bank dominated trading activities with 75.22 million shares worth N1.98 billion. It was trailed by Flour Mills with an account of 69.07 million shares valued at N1.04 billion, while Fidelity Bank sold 25.49 million shares worth N42.77 million.
United Bank for Africa accounted for 20.57 million shares valued at N119.06 million.
Specifically, the All-Share Index which opened at 26,456.29 dipped 7.67 points or 0.03 per cent to close at 26,448.62.
Similarly, the market capitlaisation lost three billion to close at N12.875 trillion compared with N12.878 trillion.
PZ recorded the highest loss, dropping by 60k to N5.55 per share.
Vitafoam trailed with a loss of 38k to close at N3.52, while Guaranty Trust Bank was down by 35k to close at N26.30 per share.
UACN lost 30k to close at N6.40, while Zenith Bank declined by 25k to close at N17.45 per share.
Conversely, MTN led the gainers’ table, gaining N1 to close at N130 per share.
Custodian and Allied Investment followed with a gain of 55k to close at N6.20, while Oando garnered 9k to close at 3.50 per share.
Consolidated Hallmark Insurance appreciated by 3k to close at 33k, while AIICO added 2k to close at 66k per share.
Meanwhile, the Central Bank of Nigeria (CBN) has injected 325.5million dollars in the retail Secondary Market Intervention Sales (SMIS) and CNY14million in the spot and short tenored forwards segment of the inter-bank foreign market.
The bank’s Director, Corporate Communications, Mr Isaac Okorafor made this known in a statement in Abuja on Friday.
Okorafor explained that the dollars intervention was for agricultural machineries and industrial raw materials.
He said the Chinese Yuan, on the other hand, was for Renminbi denominated Letters of Credit.
Okorafor further expressed optimism that the stability in the forex market would be sustained.
He assured the genuine foreign exchange users of the commitment of the apex bank towards ensuring adequate liquidity in the market.
The director disclosed that the bank on Tuesday offered authorised dealers in the wholesale segment of the market the sum of 100million dollars.
According to him, the Small and Medium Enterprises (SMEs) and the invisibles segments received the sum of 55 million dollars each.
In the meantime, N358 was exchanged for a dollar at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY1 exchanged at N48.00.