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HomeBusinessNigeria's equities market up 0.58% as naira strengthens on I&E fx window

Nigeria’s equities market up 0.58% as naira strengthens on I&E fx window

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By Samuel Bankole

Nigeria’s stock market closed positive on Monday, June 10th, with the All Share Index rising 0.58% to reach 99,793.71 points.

This translates to a market capitalization increase of N324 billion, bringing the total value of listed equities to N56.452 trillion.

Trading activity was healthy with over 963 million units of shares valued at N13.5 billion changing hands across 8,657 deals.

The market sentiment leaned positive with 30 companies recording gains compared to only 10 losers. The NGX 30 Index, which tracks the performance of the blue-chip companies, also rose 0.68% to close at 3,693.69 points.

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Flour Mills and Total led the gainers’ list, while Lafarge Africa and FCMB were the only decliners in the index.

Overnight (O/N) and Open Repo (OPR) rates increased slightly by around 0.4% compared to the previous close. The O/N rate settled at 31.09% and the OPR rate at 30.38%.

Meanwhile, the Naira showed some strength against the US Dollar in the Investors and Exporters (I&E) FX window.

The Dollar closed at N1,483.62, representing a slight appreciation from N1,483.99 recorded on the previous trading day.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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