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HomeBusinessNigeria's interbank rates rise as liquidity tightens while equity market closes positive

Nigeria’s interbank rates rise as liquidity tightens while equity market closes positive

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The Nigerian equity market closed on a positive note today as the All Share Index marginally increased by 0.01 per cent to close at 49,445.31.

Also, the market capitalisation of equities listed on the NGX increased to N26.670 trillion from N26.667 trillion as of the previous close.

The total volume traded closed with an exchange of 147.585 million units valued at N2.39 billion traded in 3,323 deals. However, the market breadth was negative with 11 gainers as against 14 losers.

The NGX 30 Index marginally increased by 0.04 per cent to close at 1,762.77 points as against 1,762.00 points at the previous close.

Market turnover closed with a traded volume of 94.43 million units. FBNH and Fidelity were the key gainers, while Total and United Capital were the key losers.

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On the money market, the interbank lending rate increased across the overnight and open report respectively.

The Overnight (O/N) rate increased by 0.42 per cent to close at 11.25 per cent against the last close of 10.83 per cent.

The Open Repo (OPR) rate increased by 0.67 per cent to close at 11.00 per cent as against the previous close of 10.33 per cent.

At the I&E foreign exchange market, the Naira appreciated by 0.06 per cent as the dollar was quoted at N436.25 as against the last close of N436.50.

Traders said most participants maintained bids between N434.00 and N437.10 per dollar.

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