The appreciation in equities market was evidenced in the Nigerian Stock Exchange (NSE) All-Share Index (ASI) which closed high at 33,511.63 points compared with the preceding trading day’s level at 33,313.49 points. In 7,301 deals, traders exchanged 683.236million shares valued at N4.348billion.
Most equities dealers yesterday bought more stocks in addition to investors existing portfolio. While that decision allowed forces of demand and supply to play up, the value of most stocks appreciated further leading to equities market capitalisation appreciating by N63.39billion. Market capitalisation appreciated to close at N10.72 trillion, compared with the preceding trading day’s N10.65 trillion.
Mobil led gainers after its share price rose from N120.44 to N125.97, adding N5.53; followed by PZ which rallied from N40.44 to N44.48, adding N4.04; and UACN which its stock price gained N3, from N50 to close at N53.
The loser chart had NewGold Exchange Traded Fund (ETF) at the top after it dropped from N2, 557 to N2, 538, losing N19; while Flour Mill dropped from N80 to N76.01, shedding N3.99; and Lafarge Cement WAPCO which lost N2.2kobo after its price dipped from N74.20 to N72.
Transaction in the shares of Unity Bank plc, Sovereign Trust Insurance, Transcorp, Fidelity Bank, and Zenith Bank helped to buoy volume of equities exchanged at the Nigerian bourse.
At the currency market, naira yesterday weakened against US dollar by 0.06 kobo at interbank market closing at N157.3900/$ as against N157.3250/$ on Friday, data from Financial Markets Dealers Association (FMDA) has indicated.
Meanwhile, the nation’s currency remained stable at the official, Bureau De Change and parallel markets closing at N155.74/$, N158.5000/$, and N159.0000/$, respectively.
However, The Central Bank of Nigeria (CBN) yesterday offered and sold $180 million to successful Deposit Money Banks (DMBs) at the rate of N155.74/$.
On the other hand, liquidity squeeze yesterday continued as the Nigeria Interbank Offered Rates (NIBOR), took a downward trend. NIBOR rates beginning from midnight call to 365 days tenor went down by 6.24 percent.
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