Economy

Naira eases 0.04% against dollar; as Stock market gains N8.15bn in bullish trading

Naira gains 0.34% at Investors window; IFAD invests US$459m in Nigeria
Written by Maritime First

The Naira depreciated against the dollar on Thursday at the Investors and Exporters Window to close at N425.05.

The figure represented a depreciation of 0.04 per cent when compared with N424.88 exchanged on Wednesday.

Also read: Bad Market: Naira slumps before dollar, exchanges N424.88; NGX Key indicators drop marginally

Also, the open indicative rate closed at N420.96 to the dollar on Thursday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N425.05.

The Naira sold for as low as N413 to the dollar within the day’s trading.

A total of 76.64 million dollars was traded in foreign exchange at the official Investors and Exporters Window on Thursday.

In another development, bullish sentiments returned to the Nigerian stock market on Thursday following investors’ interest in Union Bank and First Bank of Nigeria Holdings, Seplat, amongst others.

Specifically, the market capitalization garnered N8.15 billion or 0.03 per cent to close at N27.935 trillion from N27.927 trillion on Wednesday.

Also, the All-Share Index (ASI) advanced by 15.11 points or 0.03 per cent to close at 51,817.59 against 51,802.48 achieved on Wednesday.

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Consequently, the Year-to-Date (YTD) return increased to 21.31 per cent.

Overall, the market was positive with 19 gainers relative to 18 losers.

UPL drove the gainers’ chart in percentage terms by 9.79 per cent to close at N2.58 per share.

McNichols Consolidated followed with a gain of 9.73 per cent to close at N2.03, while Cornerstone Insurance rose by 9.09 per cent to close at 72k per share.

Chi Plc went up by 8.96 per cent to close at 73k, while JohnHolts appreciated by 8.70 per cent to close at 75k per share.

On the other hand, PZ led the losers’ chart in percentage terms by 9.86 per cent to close at N9.60 per share.

TrippleG followed with 8.42 per cent to close at 87k per share.

Prestige Insurance shed 7.50 per cent to close at 37k, while Honey Flour and RTBriscoe lost 7.07 and 6.38 per cent each to close at N2.76 and 44k per share, respectively.

Also, the total volume traded declined by 46.43 per cent to 223.11 million units valued at N3.87 billion and exchanged in 4,213 deals.

Transactions in the shares of FBNH topped the activity chart with 36.63 million shares valued at N424.13 million.

Transcorp followed with 26.47 million shares worth N32.55million, and United Bank of Nigeria (UBA) traded 17.51 million shares valued at N130.46 million.

Guaranty Trust Holding Company (GTCO) traded 15.16 million shares valued at N310.14 million, while Zenith Bank transacted 14.07 million shares worth N305.11 million.

 

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Maritime First