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Nigeria’s equity market closes on a slight decline

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By Samuel Bankole

The Nigerian equity market ended on a negative note today, with the All Share Index (ASI) experiencing a marginal decline of 0.02 percent to close at 100,006.79 points.

The market capitalization of equities listed on the Nigerian Exchange (NGX) fell slightly to N56.572 trillion, down from N56.581 trillion in the previous session.

Today’s trading session saw a total volume of 689.983 million units exchanged, valued at N7.17 billion, across 9,635 deals. The market breadth was negative, with 22 stocks gaining value, while 24 stocks declined.

The NGX 30 Index also saw a slight dip, decreasing by 0.06 percent to close at 3,698.18 points from 3,700.46 points in the prior session. Market turnover for the NGX 30 closed with a traded volume of 151.76 million units.

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Notable gainers included United Capital and Access, whereas key losers were Transcorp and International Breweries.

In the fixed income market, the Overnight (O/N) rate decreased by 0.25 percent, closing at 32.28 percent compared to 32.53 percent on the previous day. Similarly, the Open Repo (OPR) rate dropped by 0.39 percent to close at 31.67 percent, down from 32.06 percent.

In the Investors and Exporters (I&E) FX market, the Naira depreciated, with the dollar quoted at N1,523.85, compared to the previous close of N1,509.67.

As the market navigates these slight fluctuations, investors remain watchful for upcoming economic indicators and corporate earnings reports, which will provide further direction.

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

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