…ZENITHBANK was the most traded stock by volume and value at 57.42 million units and NGN2.25 billion, respectively.
…The Month-to-Date and Year-to-Date returns printed +0.0% and +33.8%, respectively
…At the NAFEM window, the Naira depreciated by 3.46% to close at N1,563.80/US$1 bringing the year-to-date depreciation to 41.99%, while the parallel market rate dipped by 2.56% on the week to close at N1,565.00/US$1
TUE JULY 16 2024-theGBJournal|The NGX All-Share Index made stellar gains on Tuesday, jumping 0.1% to 100,075.59 points.
Not only did the benchmark index see good close but market also, as measured by market breadth, market sentiment was positive (1.3x), as 19 tickers gained relative to 15 losers. UCAP (+10.0%) and CUTIX (+9.8%) recorded the most significant gains of the day, while REDSTAREX (-9.8%) and MCNICHOLS (-9.0%) topped the losers’ list.
Sustained interest in ZENITHBANK (+2.6%) and UCAP (+10.0%), drove a 0.1% gain in the All-Share Index to 100,075.59 points.
Accordingly, the Month-to-Date and Year-to-Date returns printed +0.0% and +33.8%, respectively.
The total volume of trades rose slightly by 1.7% to 368.39 million units, valued at NGN7.42 billion, and exchanged in 8,151 deals. ZENITHBANK was the most traded stock by volume and value at 57.42 million units and NGN2.25 billion, respectively.
Sectoral performance was mixed, as the Insurance (+0.4%), Oil & Gas (+0.3%), and Consumer Goods (+0.1%) indices advanced, while the Banking (-0.6%) and Industrial Goods (-0.1%) indices declined.
Meanwhile, the naira regained its composure on Tuesday, gaining by 4bps to NGN1,576.66/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The Naira was under pressure the whole of last week, and on Monday, in the official and parallel markets, despite the CBN’s interventions.
At the NAFEM window, the Naira depreciated by 3.46% to close at N1,563.80/US$1 bringing the year-to-date depreciation to 41.99%, while the parallel market rate dipped by 2.56% on the week to close at N1,565.00/US$1.
The gap between the official and street markets narrowed to 0.08% (1.02% the previous week).
The CBN’s published gross foreign exchange reserve closed the week at US$35.28bn, adding US$507.10m on the week.
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