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Naira depreciation: Equity market records N200bn loss in NGX

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Naira Depreciation News

NGX

Trading activities on the floor of the Nigerian stock market declined on Tuesday, making investors lose N200 billion amid the recent Naira depreciation against the Dollar at the foreign exchange market. Accordingly, the market capitalisation shed N200 billion or 0.35 per cent to close at N56.167 trillion, in contrast to N56.

367 trillion recorded on Monday. Also, the All-Share Index dropped by 0.35 per cent or 354 points to close at 99,311.54, compared to 99,665.05 posted in the previous session. Consequently, the Year-To-Date return fell to 32.82 per cent. The market breadth closed negative, with 25 losers and 16 gainers.

Real Estate Investment Trust, followed by 12.12 million shares worth N605.59 million, United Bank of Africa sold 55.49 million shares valued at N1.28 billion. Access Corporation traded 51.47 million shares valued at N833.25 million, and Universal Insurance transacted 50.84 million shares worth N19.13 million. Meanwhile, investors' interest improved in the shares of FBN Holdings, as the Group sold 7.91 million shares valued at N175.69 million, compared to 2.11 million shares worth N49.

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