TUE MAY 28 2024-theGBJournal|The NGX All-Share Index extended gains from yesterday’s session by 0.53% to close at 98,383.04 points on Tuesday.
Sustained demand for blue-chip GTCO (+0.66%), ZENITHBANK (+2.11%) and FBNH (+4.27%) drove the market’s positive performance.
As a result, the ASI year-to-date (YTD) return rose to 31.57%, while the market capitalisation gained N294.12 billion to close at N55.65 trillion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 10.85%.
A total of 559.61 million shares valued at N6.58 billion were exchanged in 7,990 deals. ABBEYBDS (+0.00%) led the volume chart with 277.53m units traded while SEPLAT (+3.33%) led the value chart in deals worth N1.60 billion.
Market breadth closed positive at a 2.08-to-1 ratio with advancing issues outnumbering declining ones.
DANGSUGAR (+10.00%) topped twenty-six others on the gainer’s log, while SOVREVNINS (-9.52%) led twelve others on the laggard’s table.
Meanwhile, at the foreign exchange market, the naira appreciated by 14.1% to N1,173.88/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Recall that last week, the exchange rate at the NAFEM window gained just 0.98% against the US dollar to N1,482.81/US$1 while it remained at N1,510.00/US$1 in the parallel market.
The gap between the official and street markets widened to 1.83%. The CBN’s published gross foreign exchange reserve added 0.22% to close at US$32.74bn.
The Central Bank of Nigeria reported that foreign exchange inflows increased by 136% in the first quarter of 2024 when compared with the same period last year.
Foreign exchange inflows into Nigeria reached a five-year high in March, according to the CBN.
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