The Nigerian Naira closed at N770.17/$ at the official window on Friday against N763.17 the previous day, marking a value-shedding of N7 or 10 percent. The parallel market closed at N770/US, consolidating on the exchange rates convergence that was recorded earlier in the week.
Total traded volume also recorded a decline to $125.47 million from $204.84 million traded the previous day, representing a drop of 38.8 percent.
In terms of the equities market, investors recorded a gain of N102.8 billion in the week of June 19-23 as the NGX All-Share Index closed at positive — 59,206.63 basis points against 59,211.26 basis points on Monday.
This reflected in the performance of the market capitalisation which recorded N23.2 trillion compared to N32.13 trillion on the first trading day – Monday, June 19.
A total turnover of 3.369 billion shares worth N41.86 billion in 39,764 deals was traded this
week by investors on the floor of the Exchange, in contrast to a total of 4.276 billion shares valued at N62.176 billion that exchanged hands last week in 44,344 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.515 billion shares valued at N23.030 billion traded in 19,895 deals; thus contributing 83.86% and 66.06% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 162.226 million shares worth N4.174 billion in 2,953 deals. The third place was the Conglomerates Industry, with a turnover of 148.138 million shares worth N530.633 million in 1,962 deals.
Trading in the top three equities namely Universal Insurance Plc, United Bank for Africa Plc and Guaranty Trust Holding Company Plc (measured by volume) accounted for 865.658million shares worth N12.138 billion in 4,786 deals, contributing 25.70% and 28.91% to the total equity turnover volume and value respectively
