…WEMABANK was the most traded stock by volume and value at 980.04 million units and N9.80 billion, respectively.
MON JAN 20 2025-theGBJournal| The NGX benchmark index, the All-Share Index (NGXASI), was up 2bps to 102,370.62 points on Monday, as investors continue to rebalance their portfolios for the year.
Profit-taking was seen in specific segments of the market, while undervalued and beaten-down names saw little buying interest.
The market performance was driven by buying interest in TRANSCORP (+3.3%) and OANDO (+3.1%).
The Year-to-Date return printed -0.5% while market capitalization rose by N10.24 billion to close at N62.86 trillion. .
The total volume traded rose significantly by 288.6% to 1.25 billion units, valued at N16.35 billion, and exchanged in 11,477 deals.
WEMABANK was the most traded stock by volume and value at 980.04 million units and N9.80 billion, respectively.
Analyzing by sectors, the Insurance (+2.1%), Industrial Goods (+0.2%) and Banking (+0.1%) indices gained, while the Consumer Goods (-0.5%) and Oil & Gas (-0.1%) indices posted losses.
As measured by market breadth, market sentiment was positive (1.2x), as 30 tickers gained relative to 25 losers.
CAVERTON (+10.0%) and WAPIC (+9.9%) topped the gainers’ list, while JOHNHOLT (-9.6%) and NSLTECH (-9.0%) recorded the most significant losses of the day.
Meanwhile, the naira depreciated by 0.2% to N1,550.05/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
This adds to the 0.3% to N1,547.58/USD at close of markets last Friday, despite the intervention from the CBN, selling c. USD300.90 million to authorised dealers.
On the back of this trend, the country’s FX reserves declined by USD330.12 million w/w to USD40.42 billion (15 January).
In the forwards market, the naira rates increased across the 1-month (+0.2% to N1,589.78/USD), 3-month (+0.6% to N1,654.40/USD), 6-month (+1.4% to N1,751.59/USD) and 1-year (+3.0% to N1,935.72/USD) contracts.
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