Home Forex Exchange Forex crisis: Those patronizing parallel market will lose money – CBN Governor – Nairametrics

Forex crisis: Those patronizing parallel market will lose money – CBN Governor – Nairametrics

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Nigerian stock market maintained positive trend for the fourth trading session as the key market performance measures, All Share Index, ASI, and market capitalization, further grew by 1.05% each.

Today’s uptrend was impacted by gains recorded in High Cap stocks like Mobil, Zenith Bank, Guaranty Trust Bank, Unilever and BUACEMENT.

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Market sentiment, as measured by market breadth closed positive, recording 29 gainers against 9 losers. REDSTAREX for the second trading session recorded the highest price gain of 10.00 % to close at N3.75 per share.

Consequently, the All-Share Index rose by 1.05 %to close at 24.758.39 index points as against 24.452.23 points recorded yesterday while market capitalization of equities appreciated by N159.55bn or 1.03 % to close higher at N12.902tn from N12.743tn as market sentiment remained on the green territory.

A turnover of 350.76 million shares valued at N3.70billion in 5,239 deals was recorded in today’s trading. ZENITHBANK (+3.03%) finished the most active in today’s trading to boost market turnover by 57.4million units of shares valued N961.39 million.

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(READ MORE: Dangote, Nestle, Zenith, GTBank hit home run as investors party with N94.4 billion)

The sectoral performance was largely positive as all sector indexes gained. The Industrial index (+5.72%) was the top performer of the day, due to the +9.88 price appreciation in BUACEMENT as earnings report hit the market on Monday.

Businessman makes a strong case against equity investment, stock market

Businessman makes a strong case against equity investment, stock market

The NSE Oil & Gas index followed to gain 1.44%, on the back of +9.95% gain recorded in MOBIL. Consequently, appreciation in FBNH (+3.88%), ZENITH BANK (+3.03%), WAPIC (+6.45%), and AIICO (+2.02%) spurred the NSE Banking and Insurance Indexes to advance 1.41% and 0.97% respectively. The Consumer Goods index finished the day, +0.38% on UNILEVER (+9.30%) price close.

Top gainers 

BUACEMENT up 9.88% to close at N35.6, MOBIL up 9.95% to close at N194.5, UNILEVER up 9.30% to close at N16.45, GUINNESS up 3.24% to close at N17.55, ZENITH BANK up 3.03% to close at N17

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Top losers

ARBICO down 9.91% to close at N2.09,FLOUR MILL down 4.76%  to close at N20, OANDO down 5.76% to close at N2.62N1.9,NPFMCRFBK down 3.55%  to close at N1.9,FIDSON down 1.54% to close at N3.2

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Outlook

Nigeria’s stock market final print was dependent on blue-chip stocks led by MOBIL, BUACEMNT and the banking tickers,( most tier-1 banks) had a going showing. However Nairametrics advise on cautious buying as volume still remains a bit thin

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