Business
NSE market indices record 0.34% growth as Nigeria’s forex reserves decline by 11.7%
The Nigerian equity market ended the year on Friday on a positive note, with indices appreciating by a growth of 0.34 per cent.
National Daily gathered that market capitalisation for the third consecutive day maintained an upward trend, growing by N31 billion or 0.34 per cent to close at N9.246 trillion against N9.215 trillion achieved on Thursday.
Also, the All-Share Index which opened at 26,782.93 roses by 91.69 points or 0.31 per cent to close at 26,874.62.
An analysis of the price movement table showed that Nigerian Breweries led the gainers’ table with N5.99 to close at N147.99 per share. Guinness Nigeria came second with a gain of N3.05 to close at N83.05, while UACN gained 40k to close at N16.81 per share.
University Press gained 18k to close at N4.24, while Oando improved by 15k to close at N4.70 per share. Conversely, Mobil Oil recorded the highest loss to lead the losers’ table, dropping by N11 to close at N279 per share.
Forte Oil trailed with a loss of N9.11 to close at N84.43 and Beta Glass dipped N1.51 to close at N30.32 per share. Cadbury Nigeria was down by 54k to close at N10.29, while Portland Paint shed 18k to close at N1.80 per share.
Omoluabi Savings and Loans was the toast of investors with an exchange of 50.50 million shares worth N44.40 million.
GT Bank led in the banking sector, accounting for 33.94 million shares valued at N838.33 million and Access Bank sold 8.81 million shares worth N50.91 million. Zenith Bank accounted for 8.45 million shares worth N125.52 million, while United Capital transacted 6.67 million shares valued at N18.64 million.
In all, investors staked N1.59 billion on 156.96 million shares traded in 1,714 deals. This was a turnover of 117.22 million shares valued at N877.63 million achieved in 2,392 deals.
Meanwhile, Nigeria’s foreign exchange reserves fell 11.7 percent to $25.72 billion by Dec. 28, from $29.13 billion a year earlier, central bank data showed on Friday.
However, the reserves showed a 4.2 percent increase month-on-month, up from $24.69 billion on Nov.28 – due to a slight recovery in global oil prices and a rise in the OPEC member’s oil production levels.
