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Nigerian Stock Exchange

Naira Dips to N413.62 Against U.S Dollar on Monday

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Naira Dollar Exchange Rate - Investors King

The Nigerian Naira opened the week lower against the United States Dollar at the Investors and Importers Forex Window on Monday, according to the data provided by the FMDQ Group.

Naira opened the week at N412.81 to a U.S Dollars and plunged to as low as N415 at the spot forex market before paring losses to N413.68 after hitting a recent high of N409 against the greenback during the trading hours of Monday.

Spot exchange is the present exchange rate at which one currency is exchange for another now.

The forward exchange rate, an exchange rate, agreed upon now, for a future foreign exchange transaction that will occur at a specified date, hits N420.79 per US dollar. Investors at the window traded $91.23 million during the trading hours of Monday.

At the unregulated parallel market, known as the black market, the Naira to Dollar exchange rate stood at N550 to N570 despite efforts by the Central Bank of Nigeria (CBN) to discourage Nigerians from patronising that section of forex.

The apex bank had warned against patronising the black market and gone a step further to halt sale of forex to bureau de change in an effort to stop illigal forex flow to the black market and finally put an end to the activities of speculators and forex hoarders.

However, despite all the new measures forex scarcity persisted with most Nigerians that approached their banks for forex as stipulated by the apex bank yet to receive forex due to scarcity.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Nigerian Stock Exchange

Stock Investors Gained N238 Billion as NGX Index Rises by 1.10 Percent

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Stock Bull - Investors King

Investors at the Nigerian Exchange Limited (NGX) gained another N238 billion on Thursday following a profit of N53 billion on Wednesday.

Market value of all listed equities closed at N21.764 trillion, an increase of N238 billion when compared to N21.526 trillion it closed on Wednesday.

NGX All-Share Index appreciated by 1.10 percent from 41,249.71 index points on Wednesday to 41,704.11 index points on Thursday.

Investors exchanged 216,194,624 shares valued at N3.381 billion in 4,272 transactions during the trading hours of Thursday, in contrast to 499,507,983 shares worth N5.079 billion transacted in 5,998 deals on Wednesday.

Cutix led gainers with N0.5 or 10 percent to close at N5.50 a unit. NGX Group sustained its bullish run with N2.10 or 9.79 percent to close at N23.55 percent as shown below.

Top Gainers 

Symbols Last Close Current Change %Change
CUTIX N 5.00 N 5.50 0.50 10.00 %
NGXGROUP N 21.45 N 23.55 2.10 9.79 %
CHIPLC N 0.55 N 0.60 0.05 9.09 %
NB N 47.90 N 51.45 3.55 7.41 %
BUACEMENT N 67.85 N 72.00 4.15 6.12 %

Top Losers

Symbols Last Close Current Change %Change
TIP N 0.47 N 0.43 -0.04 -8.51 %
NEIMETH N 1.85 N 1.76 -0.09 -4.86 %
UNIVINSURE N 0.21 N 0.20 -0.01 -4.76 %
NAHCO N 3.60 N 3.47 -0.13 -3.61 %
UNITYBNK N 0.57 N 0.55 -0.02 -3.51 %

Top Trades

Symbols Volume Value
FBNH 51915381.00 628328003.80
ETI 20019916.00 143690535.50
TRANSCORP 14645821.00 14974142.81
ACCESS 13034388.00 124228342.40
FIDELITYBK 12480690.00 34160372.88

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Nigerian Stock Exchange

Nigerian Exchange Group (NGXGROUP) Hits N23.55 a Share as Stock Market Gained N53 Billion

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Nigerian Exchange Group- Investors King

The Nigerian Exchange Group (NGXGROUP) extended its bullish run on Wednesday to top gainers for the third consecutive day since it was listed on Friday.

NGXGROUP opened the day at N19.50 a share before setting a new record-high at N23.55 per unit and gradually paring gain to N21.45. 

During the trading hours of Wednesday, investors traded total shares of 499,507,983 valued at N5.079 billion in 5,998 transactions.

The Nigerian Exchange Limited All-Share Index gained 0.26 percent to close at 41,249.71 index points, while the market value of all listed equities expanded by N53 billion to N21.526 trillion, up from N21.473 trillion it closed on Monday.

Again, FBN Holdings led the most traded stocks with 147,601,710 shares valued at N1,756,369,828.65. See other details below.

Top Gainers 

Symbols Last Close Current Change %Change
NGXGROUP N 19.50 N 21.45 1.95 10.00 %
GLAXOSMITH N 6.55 N 7.00 0.45 6.87 %
NPFMCRFBK N 1.71 N 1.81 0.10 5.85 %
WAPIC N 0.48 N 0.50 0.02 4.17 %
FBNH N 11.75 N 12.20 0.45 3.83 %

Top Losers

Symbols Last Close Current Change %Change
PRESTIGE N 0.47 N 0.43 -0.04 -8.51 %
CHIPLC N 0.60 N 0.55 -0.05 -8.33 %
ACADEMY N 0.36 N 0.33 -0.03 -8.33 %
CADBURY N 8.50 N 8.00 -0.50 -5.88 %
UBN N 5.30 N 5.00 -0.30 -5.66 %

Top Trades

Symbols Volume Value
FBNH 147601710.00 1756369828.65
ETRANZACT 105166888.00 215593550.40
ACCESS 27854834.00 265973090.30
TRANSCORP 22292997.00 22782508.71
GTCO 20595381.00 612908183.40

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Nigerian Stock Exchange

Price of Shares of Nigerian Exchange Group Near N20 a Unit

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Nigerian Exchange Group- Investors King

The recently listed Nigerian Exchange Group (NGXGROUP) extended gains to N19.5 per share as more investors keyed into the prospect of the newly created company following the demutualisation of the Nigerian Stock Exchange to reposition the organisation for better growth and opportunities.

The Group listed 1,964,115,918 ordinary shares on the Nigerian Exchange Limited on Friday, 15 October 2021 at N16.15 per share.

On the same day, investors traded 3,562,076.00 shares of the company, pushing the price to N17.75 a share by the close of business.

The price of the stock continues to rise on Monday, hitting N19.5 per as more investors jumped on it. Investors traded 19,000,933 units on Monday.

Nigerian Exchange Group has now gained 20.74 percent in value since being listed on the Nigerian Exchange Limited on Friday.

The most significant benefit of our listing on the NGX exchange is the ability it gives us to drive inorganic growth as we add new subsidiaries and business lines that complement our business. This new era is indeed very exciting for us and we look forward to many possibilities achievable from deepening our various partnerships,” stated Mr. Oscar Onyema, the Chief Executive of NGX Group.

 

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