By Samuel Bankole
Nigeria’s equity market closed on a positive note today, with the All Share Index (ASI) rising by 0.13%, settling at 97,606.63 points.
The market capitalization of listed equities on the Nigerian Exchange (NGX) also climbed to N56.088 trillion, up from the previous day’s close of N56.014 trillion.
The day’s trading saw a total of 304.43 million shares exchanged in 6,950 deals, valued at N5.60 billion. Market sentiment was bullish, with 31 stocks recording gains against 19 decliners.
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The NGX 30 Index, which tracks the performance of the top 30 companies, gained 0.17%, closing at 3,652.69 points, up from 3,646.39 points. Turnover for this segment registered a volume of 193.79 million units.
Key gainers included Sterling Bank and Guarantee Trust Holding Co., while Dangote Sugar and United Bank for Africa (UBA) led the losers’ chart.
In the money market, the overnight (O/N) rate jumped by 0.60%, closing at 33.00%, compared to the previous day’s 32.40%.
Similarly, the open repo (OPR) rate rose by 0.33% to 32.36%, up from 32.03% the previous day.
In the I&E foreign exchange market, the naira weakened, with the dollar closing at N1,641.27, compared to N1,622.57 the previous day, indicating further pressure on the local currency.
(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)
