Naira Drops to N582/$1 as Ethereum, Others Respect


By Dipo Olowookere

Transactions on the ground of the Nigerian Exchange (NGX) Limited closed bearish on Friday, shedding 0.15 per cent on the again of profit-taking in banking shares and others.

Zenith Bank

The banking house misplaced 0.63 per cent, the insurance coverage counter declined by 0.48 per cent, whereas the oil/fuel sector depleted by 0.23 per cent, with the buyer items index rising by 0.07 per cent and the economic items sector closing flat.

At the shut of enterprise, the All-Share Index (ASI) depreciated by 70.55 factors to 47,282.67 factors from 47,353.22 factors, whereas the market capitalisation went down by N38 billion to N25.483 trillion from N25.521 trillion.

As for the extent of transactions, it was combined yesterday as buyers traded 600.0 million shares value N3.8 billion in 4,289 offers in contrast with the 239.7 million shares value N3.9 billion traded in 3,848 offers on Thursday, implying a rise within the buying and selling quantity by 150.07 per cent, a lower within the buying and selling worth by 1.56 per cent and an uptick within the variety of offers by 11.46 offers.

When actions had been closed for the session, eTranzact completed as probably the most traded inventory with 331.1 million items valued at N880.8 million.

Fidelity Bank exchanged 47.8 million items value N143.1 million, FBN Holdings transacted 36.8 million items value N435.5 million, Access Bank offered 29.5 million items valued at N289.4 million, whereas UBA transacted 28.2 million items valued at N241.9 million.

The worst-performing inventory on Friday was MRS Oil because it misplaced 9.96 per cent to shut at N12.20, Ikeja Hotel fell by 9.87 per cent to commerce at N1.37, Coronation Insurance declined by 9.43 per cent to 48 kobo, Mutual Benefits Assurance depreciated by 7.41 per cent to 25 kobo, whereas Access Bank shed 5.77 per cent to N9.80.

On the flip aspect, PZ Cussons completed the session because the best-performing inventory with a progress of 9.55 per cent to N8.60, CWG appreciated by 8.08 per cent to N1.07, Royal Exchange grew by 7.14 per cent to N1.20, Niger Insurance rose by 5.00 per cent to 21 kobo, whereas AIICO Insurance appreciated by 4.35 per cent to 72 kobo.

Business Post studies that the market breadth was adverse yesterday because the investor sentiment was strongly weaker with 20 depreciating equities and 13 appreciating shares.

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