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HomeBusinessLocal bourse sheds N12 billion in value as Naira depreciates to N422.5/$

Local bourse sheds N12 billion in value as Naira depreciates to N422.5/$

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The Nigerian equity market closed on a negative note on Thursday as the All Share Index marginally decreased by 0.04 per cent to close at 53,170.73 points.

The market capitalization of equities listed on the NGX decreased to N28.665 trillion from N28.677 trillion it closed on the previous close.

The total volume traded closed with an exchange of 318.418 million units valued at N3.34 billion traded in 4,345 deals.

The market breadth was negative with 15 gainers as against 17 losers.

The NGX 30 Index marginally decreased by 0.05 per cent to close at 1,935.06 points against 1,935.94 points at the previous close.

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Market turnover closed with a traded volume of 106.85 million units.

International Breweries and Lafarge Africa were the key gainers, while Zenith and UBA were the key losers.

On the money market, the interbank lending rate declined with the Overnight (O/N) rate decreased by 0.83 per cent to close at 7.50 per cent against the last close of 8.33 per cent.

Also, the Open Repo (OPR) decreased by 0.25 per cent to close at 7.25 per cent against the last close of 7.50 per cent.

At the I&E foreign exchange market, the Naira depreciated by 0.54 per cent as the dollar was quoted at N422.50 compared with the last close of N420.25.

Forex traders said most participants maintained bids between N413.00 and N444.00 per dollar.

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