TUE APRIL 02 2024-theGBJournal| Trading activities at the NGX Exchange kicked off the second quarter on a mixed note as losses in FBNH (-2.0%) and WAPCO (-2.8%) offset gains from ACCESSCORP (+2.0%) and GTCO (+1.1%).
Consequently, the All-Share Index settled lower by 4bps to close at 104,518.14 points, with the YTD return moderating to +39.8%.
The total volume traded declined by 12.5% to 545.49 million units, valued at N14.61 billion, and exchanged in 12,925 deals. GTCO was the most traded stock by volume and value at 84.65 million and N4.48 billion, respectively.
Across the sectors, the Industrial Goods (-0.1%) and Banking (-0.1%) indices declined, while the Consumer Goods and Oil & Gas indices closed flat. The Insurance (+1.4%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was positive (1.5x), as 23 tickers gained relative to 15 losers. MAYBAKER (+10.0%) and IKEJAHOTEL (+10.0%) recorded the most significant gains of the day, while UACN (-9.8%) and JBERGER (-9.2%) topped the losers’ list.
Meanwhile, at the forex market, the naira appreciated by 2.4% to N1,278.58/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Recall that the naira closed last week’s trading at N1,309.39/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM), with total turnover (as of 27 March 2024) declining by 47.8% WTD to US$984.84 million, as trades were consummated within the N1,200.00 – N1,486.00/US$ band.
Notably, the CBN sold another round of US$10,000.00 to each of the eligible BDCs at N1,251.00/US$, with an allowable spread capped at 1.5%.
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