NGX rebounds with 20 gainers, as ASI lifts by 0.69% for Wednesday

The market swing has again returned to the positives, as the NGX closed Wednesday’s trading activities with capitalization rising by N142 billion to close at N20.553 trillion from N20.411 trillion on Tuesday.

All-Share Index also rose up 0.69% to close at 39,448.46, being 271.84 points higher than Tuesday’s 39,176.62.

Wednesday’s trading recorded 20 gainers and 15 losers as the trading session ended with 181.41 million shares valued at N20.08 billion in 3,599 deals.

Pharma-Deko led the gainers table with N0.10k gain to close at N1.19k, followed by Neimeth International Pharma with share price appreciation of N0.13k to close at N1.64k. Ikeja Hotel also gained N0.10k to close at N1.40k.

However, FTN Cocoa Processors led in the losers chart after it lost N0.04k to close at N0.41k. It was followed by Wema Bank which lost N0.06k to close at N0.76k then May and Baker Nigeria lost N0.30k to close at N4.40k.

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Transnational Corporation of Nigeria had the highest volume of traded shares for the day as it traded 20.5 million shares followed by Ecobank Transnational Incorporated with 17.5 million shares.

Naira sells for N515/$1 at parallel market, N411.50/$1 at I&E window

Meanwhile, at the currency exchange, the Naira lost N5 to the U.S Dollar at the unregulated segment of the foreign exchange market on Wednesday to trade at N515/$1.

Traders at the parallel or black market sold the Naira at that rate as against the N510/$1 they sold it at the previous session.

However, against the Pound Sterling and the Euro, the Naira closed flat at the parallel market Wednesday, at N703/£1 and N596/€1 respectively.

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At the Investors and Exchange (I&E) window, the indigenous currency closed stronger against the US Dollar by 10 kobo pr 0.02 per cent despite coming under FX demand pressure.

During the trading session, the Nigerian currency closed at N411.50/$1 compared with N411.60/$1 it was transacted on Tuesday.

Data showed that the turnover for the market window rose by 8.1 per cent or $9.9 million as total transactions worth $132.42 million were made against the $122.52 million achieved a day earlier.

But the exchange rate of the Naira at the interbank segment remained unchanged at the midweek session at N410.12/$1.

As for the digital currency market, transactions have remained bullish and yesterday, the bulls stayed a day further as six of the seven key tokens monitored by Business Post on the trading platform, Quidax, closed in the green zone.

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Bitcoin (BTC) appreciated by 2.1 per cent to close at N23,750,001.40, Ethereum (ETH) grew by 2.8 per cent gain to close at N1,627,002.01, while Ripple (XRP) surged by 23.1 per cent to trade at N513.12.

Also, Litecoin (LTC) moved up by 7.7 per cent to trade at N93,038.70, Tron (TRX) gained 12.6 per cent to sell at N43.07, while the Dash (DASH) improved by 4.1 per cent to sell at N88,102.03.

But the US Dollar Tether (USDT) lost 0.6 per cent during the trading day to finish at N514.06.

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