Business How Nigerian Naira, Stocks Market Reacted to Buhari's Return


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ProfRem

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Equities Market:

Nigerian equities market closed on Monday on a negative note, as All Shares Index depreciated by -0.91% to close at 36,584.44 basis points as against 1.66 per cent appreciation recorded previously.

Thos result is coming as President Muhammadu Buhari resumed office of Monday after more than 100 days in United Kindom for medical follow up.

Market Year-to-Date (YTD) returns currently stands at +36.13%.

Market breadth closed positive as FLOURMILL led 26 Gainers as against 16 Losers topped by VITAFOAM at the end of today’s session- an improved performance when compared with previous outlook.

Market turnover closes positive as volume moved up by +55.69% as against +5.10% uptick recorded in the previous session. AIICO, GUARANTY and ZENITHBANK were the most active to boost market turnover. GUARANTY and DANGCEM topped market value list.

AIICO leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

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Naira:


Nigerian naira closed flat at the parallel and CBN official rate at N370 and N305. 70 to the dollar on Monday.

The currency lost N2 to close at N477 against Pound sterling from N475 and flat agaianst the Euro at N432 at the parallel market.

At the Investor & Exporters' FX Window, the currency shed 0.21 per cent to close at N361.59 to the dollar.
 
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