July 06, (THEWILL) -The Naira reversed the gains of Wednesday (N748.31) and depreciated by 2.8 percent to trade N762/63/$ at the I&E window according to FMDQ’s website on Thursday. Market turnover climbed to $89.37 million from $88.68 million the previous day, a marginal increase of 0.8 percent.
Equities market sustained the previous session’s gains, as bargain hunting in DANGCEM (+1.8% from N290 per share), spurred a 0.8% increase in the All-Share Index to 62,019.88 points. Accordingly, the Month-to-Date and Year-to-Date returns printed +1.7% and +21.0%, respectively.
Market capitalisation rose to N33.7 trillion from N33.5 trillion on Wednesday, showing investors’ gain of N27 billion.
The total volume traded increased significantly by 543.2% to 5.44 billion units, valued at NGN95.01 billion, and exchanged in 9,948 deals. FBNH was the most traded stock by volume and value at 4.69 billion units and NGN87.81 billion, respectively.
Analysing by sectors, the Oil & Gas (+2.4%), Industrial Goods (+0.9%), and Consumer Goods (+0.2%) indices recorded gains, while the Banking (-2.5%) and Insurance (-0.6%) indices printed losses.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
