BusinessEquity Investors Gain N263bn As Naira Shrinks To N773.98/$ On I &...

Equity Investors Gain N263bn As Naira Shrinks To N773.98/$ On I & E Window

September 19, (THEWILL) – Investors in Nigerian stocks witnessed a bullish trend that lifted the market to a N263 billion gain on Monday.

The local bourse closed the day’s trading with a market capitalization of N37.14 trillion against N36.88 trillion in the previous trading.

This also reflected in the performance of the All-Share Index which rose to 67,877.17 points compared to 67,395.74 points on Friday.

Bargain-hunting in Stanbic-IBTC (+9.6% against N75.50 price) and Airtel Africa (+1.6% from price of N1,270) drove a 0.7% increase in the All-Share Index. Thus, the Month-to-Date and Year-to-Date returns advanced to +2.0% and +32.4%, respectively.

The total volume traded increased by 26.0% to 515.28 million units, valued at N8.93 billion, and exchanged in 8,357 deals. UBA was the most traded stock by volume at 109.47 million units, while Airtel Africa was the most traded stock by value at NGN2.72 billion.

On Sectors, the Banking (+1.4%), Consumer Goods (+0.2%), and Insurance (+0.1%) indices recorded gains, while the Oil & Gas (-0.4%) and Industrial Goods (-0.1%) indices.

settled lower.
On the currency market, the Naira slumped to N773.98/$ at the official I&E window on Monday against N756.91/$ on Friday, losing N17.07 to the dollar. Volume traded (turnover) was not provided on the FMDQ website at the time of filing the report.

Meanwhile, the Naira traded at N950/$ at the parallel market, maintaining the losing weight in that segment of the forex trading platform.

About the Author

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.

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Sam Diala, THEWILLhttps://thewillnews.com
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.

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