…As CBN injects $210m into FOREX market***
Trading on Nigerian Stock Exchange (NSE) closed on a positive note on Tuesday, with Total Oil leading the gainers’ table.
The News Agency of Nigeria (NAN) reports that the crucial market indicators appreciated marginally with 0.58 per cent growth, following gains by some blue chip concerns.
Specifically, the market capitalisation increased by N75 billion or 0.58 per cent to close at N12.96 trillion against N12.89 trillion recorded on Monday.
Also, the All-Share Index rose by 204.85 points or 0.58 per cent to close at 35,516.21 points compared with 35,311.36 posted on Monday.
Total Oil led the gainers’ table with N9 gains to close at N190 per share.
Flour Mills followed with a gain of N1.2 to close at N24.8, while Guaranty Trust Bank added N1 to its value to close at N39 per share.
PZ improved by 95k to close at N14, while Dangote Sugar appreciated by 5k to close at N15.5 per share.
Conversely, Glaxosmith topped the losers’ chart, shedding N1 to close at N14, while ETI and Forte Oil trailed with a loss of 7k each to close at N19.3 and N22.3 per share, respectively.
Nigeria Breweries was down by 5k to close at N100 per share, while Custodian lost 35k to close at N5.1 per share.
Similarly, the volume of shares traded at the Exchange rose by 89.97 per cent, while value of shares transacted increased by 172.43 per cent.
NAN reports that investors traded a total of 339.68 million shares valued at N5.50 billion in 3,394 deals.
This was against the 178.810 million shares worth N2.02 billion exchanged in 2,981 deals on Monday.
Hmarkins was the most active stock, exchanging 99.95 million shares worth N30.99 billion.
Stanbic IBTC followed with an account of 72.95 million shares valued at N3.61 billion, while MayBaker traded 40.09 million shares worth N91.87 million.
Transcorp sold 16.07 million shares valued at N19.68 million, while UBA exchanged 13.81million shares worth N114.98 million.
In the meantime, the The Central Bank of Nigeria (CBN), has injected 210 million dollars into the inter-bank Foreign Exchange Market to ensure adequate supply of foreign exchange to customers.
The CBN acting Director, Corporate Communications Department, Mr Isaac Okorafor, said 100 million dollars was offered to authorised dealers in the wholesale segment of the market.
He said customers in the Small and Medium Enterprises segment received 55 million dollars and those requiring foreign exchange for tuition fees, medical payments and Basic Travel Allowance among others, received 55 million dollars.
Okorafor reassured the public that the bank would continue to intervene in the interbank Foreign Exchange Market in line with its desire to sustain liquidity in the market and maintain stability.
It will be recalled that on Aug. 23 and 24, the Bank injected a total sum of 543.22 million dollars and 63.21 million Chinese Yuan into the Inter-bank Foreign Exchange Market.
Meanwhile, the naira continued its stability in the Foreign Exchange Market, exchanging at an average of N361 to a dollar in the Bureau De Change segment of the market.
