Naira loses to dollar by 0.21% at Investors and Exporters window

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

… As Equities market capitalization further gains, by 0.50%***

The Naira on Monday lost to the greenback at the Investors and Exporters window, after closing on a positive note on June 24.

The local currency exchanged at N421.00 to the dollar, against N420.12 traded before the close of business on June 24, a 0.21 per cent depreciation.

Also read: Naira slumps, exchanges at N420.50 to dollar as NGX capitalisation up by N153bn

The open indicative rate closed at N420.50 to the dollar on Monday.

An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N421.00

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

A total of 152.96 million dollars was traded in foreign exchange at the official Investors and Exporters window on Monday.

In another development, the market capitalization of the Nigerian Exchange (NGX) Ltd., increased by N139 billion to N28.014 trillion from N27.875 trillion posted on Friday.

Also, the All-Share Index (ASI) increased by 0.50 per cent with an increase of 257.24 points to close at 51,962.85 points from 51,705.61 points recorded on Friday.

The market’s performance was driven by sustained investors’ interest in MTN Nigeria, First Bank of Nigeria Holdings (FBNH), Zenith Bank, and Okumu Oil, among others.

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Consequently, the Year-to-Date (YTD) return rose to 21.65 per cent.

Market breadth closed positive, with 18 gainers and 15 losers.

Transnational Incorporated (ETI) recorded the highest price in percentage terms, with a gain of 9.79 per cent to close at N10.65 per share.

John Holts and Linkage Assurance followed with 9.52 per cent and 9.43 per cent each to close at 69k and 58k respectively.

Okumu Oil and Cornerstone Insurance appreciated by 3.85 per cent to close at 27k per share.

Cornerstone rose by 6.45 per cent to close at 66k.

Conversely, PZ led the losers’ chart with a loss of 10 per cent to close at N11.25 per share.

Eterna oil followed with 9.33 per cent to close at N6.80, while RTBriscoe depreciated by 6.25 per cent to close at 45k per share.

Ardova dropped 5.09 per cent to close at N13.05, while Nigerian Breweries lost 3.42 per cent to close at N57.95 per share.

Meanwhile, the total volume also traded closed higher with an exchange of 266.51 million shares valued at N2.6 billion achieved in 5,050 deals.

This was in contrast with 156.09 million shares worth N1.83 billion transacted in 4,312 deals on Friday. This represents an increase of 41.82 per cent.

Transactions in the shares of Living Trust topped the activity chart with 64.66 million shares valued at N77.59 million.

Transcorp followed with 31.8 million shares worth N39.66 million, while Accesscorp traded 29.27 million shares valued at N275.17 million.

Oando sold 27.73 million shares worth N162.41 million, while United Bank for Africa (UBA) accounted for 20.61 million shares worth N152.75 million.


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Maritime First