The Next Edition
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
No Result
View All Result
The Next Edition
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate
Home Headline News

Deals on Nigerian Stock Exchange hit N97.08 billion in July

Agency Report by Agency Report
August 7, 2017
in Headline News
Deals on Nigerian Stock Exchange NSE hit N97.08 billion in July

Kemi Adeosun

0
SHARES
5
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Investors on the Nigerian Stock Exchange (NSE) exchanged 8.66 billion shares valued at N97. 08 billion transacted in 89,911 in July, the News Agency of Nigeria (NAN) reports.

A monthly data obtained by NAN from the NSE showed that the turnover increased by 12.32 per cent when compared with 7.71 billion shares worth N77. 92 billion traded in 100,895 in June.

You might also like

Media Laws: Information Minister Assures Nigerian Editors Of Cooperation

Ambassador Sarafa Tunji Isola To Chair 7th Penpushing Media Anniversary Lecture

APC Reinstates Kebbi Gov’s Aide Suspended For Bringing Snake To Gov’t House 

The Financial Services sector was the toast of investors with 7.45 billion shares valued at N68. 24 billion transacted in 51,991 deals.

United Bank for Africa (UBA) was the most active in the sector having accounted for 2.96 billion shares worth N28 billion in 5,814 deals.

It was trailed by FBN Holdings with 597.61 million shares valued at N3.57 billion transacted in 7,816 deals.

A further breakdown of the month’s activity chart indicated that conglomerates industry came third with a turnover of 432.97 million shares worth N895.02 million in 4,249 deals.

Transcorp was the toast of investors in the sector, accounting for 412.99 million shares valued at N601.78 million achieved in 3,276 deals, while UACN sold 17.11 million shares worth N290.42 million in 833 deals.

Consumer Goods sector traded 346.18 million shares worth N15.02 million in 14,083 deals.

Dangote Sugar Refinery was the toast of investors in the sector with 64.94 million shares valued at N606.24 in 1,156 deals and Dangote Flour Mills transacted 56.08 million shares worth N291.27 million in 1,944 deals.

Oil and Gas sector trailed with 124.08 million shares worth N3.56 billion exchanged in 8,407 deals.

Oando dominated activities in the sector with a turnover of 87.56 million shares valued at N659.72 million in 2,886 deals, while Eterna sold 13.12 million shares worth N49.49 million in 599 deals.

Read also: Nigeria on pathway of economic recovery – Enang

Also, the All-Share Index during the period inched 2,730.27 points or 8.24 per cent to close at 35,847.75 against 33,117.48 achieved in June.

In the same vein, the market capitalisation which opened at N11.452 trillion rose by N901 billion or 7.87 per cent to close at N12.353 trillion.

Commenting on the market performance, Mr Ambrose Omordion, the Chief Operating Officer,  InvestData Ltd., attributed the growth to increased confidence of foreign and domestic investors on the strength of improving economic and market fundamentals.

Omordion said that the fundamentals were driven by the sustained intervention of the Central Bank of Nigeria (CBN) in the nation’s foreign exchange market.

He said that the creation of foreign exchange products, the import and export, small and medium-scale enterprises windows among others helped to support the continued appreciation of the Naira, thereby ensuring stable exchange rate.

Omordion, however, called for urgent implementation of the Economic Recovery and Growth Plan (ERGP) to complement CBN’s effort at boosting productivity to create employment and sustain the ongoing recovery.

Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said that the seeming positive data that supported the recovery move in the system for the past five months would likely continue with sustained foreign exchange intervention.

Kurfi said that the apex bank sustained intervention in foreign exchange had boosted liquidity and confidence in the economy.

Kurfi said that the market outlook for the new month remained mixed as less quarterly and full year were expected.

He said that the economic recovery needed to be strengthened with the implementation of 2017 budget.

 

 

(NAN)

Tags: billionbusinessDealsexchangeheadlinehitJulyN97.08newsnewspaperNEXT EDITIONNigerianStock
Agency Report

Agency Report

Recommended For You

Media Laws: Information Minister Assures Nigerian Editors Of Cooperation

Media Laws: Information Minister Assures Nigerian Editors Of Cooperation

The Minister of Information and National Orientation, Alhaji Mohammed Idris, has assured the Nigerian Guild of Editors (NGE) of cooperation in their quest to seek for harmonisation of...

Ambassador Sarafa Tunji Isola To Chair 7th Penpushing Media Anniversary Lecture

Ambassador Sarafa Tunji Isola To Chair 7th Penpushing Media Anniversary Lecture

  A former Nigerian Ambassador to United Kingdom, Ambassador Sarafa Tunji Isola has accepted the role of chairman at the 7th anniversary lecture of Penpushing Media, scheduled to...

APC Reinstates Kebbi Gov’s Aide Suspended For Bringing Snake To Gov’t House 

APC Reinstates Kebbi Gov’s Aide Suspended For Bringing Snake To Gov’t House 

    The All Progressives Congress (APC), Kebbi chapter has announced the reinstatement of Alhaji Kabir Sani-Giant, Special Adviser to Gov. Nasir Idris on Power and Politics.  ...

Udeme Ufot to chair QEDNGCreative Powerhouse Summit

Udeme Ufot to chair QEDNGCreative Powerhouse Summit

  Mighty Media Plus Network Limited, publishers of the online newspaper QEDNG, has announced Udeme Ufot as Chairman of the inaugural QEDNG Creative Powerhouse Summit.   Ufot is...

Next Post
Nigerian Army to partner renowned arms producers –Buratai

Army holds promotion exams for 326 Majors, Captains




Related News

RESCUE

Police Foil Attempt To Abduct Nasarawa PDP Chieftain

ECOWAS: Osinbajo In Accra For Summit On Mali Crisis

ECOWAS: Osinbajo In Accra For Summit On Mali Crisis

NNPC Raises Alarm Over Fake Diesel, Urges Motorists To Avoid Use

NNPC Raises Alarm Over Fake Diesel, Urges Motorists To Avoid Use




The Next Edition

Office Address

3B, Agboola Aina street, Off Toyin Street,
Ikeja, Lagos.

Quick Contact Details

Phone:
08033018430
Whatsapp:
08051679910

Email:
[email protected]
[email protected]

Categories

  • Aviation
  • Beauty
  • Breaking News
  • Business
  • Columnists
  • Editorial
  • Entertainment
  • Fashion
  • Featured
  • Football
  • Foreign
  • Headline News
  • Home & Garden
  • Interviews
  • Investigations
  • North Central
  • North East
  • North West
  • Opinion
  • Parenting
  • Politics
  • Relationships
  • South East
  • South West
  • South-South
  • Special Reports
  • Sports
  • Top News
  • Vox Pops

© Next Edition Business Development Limited

  • About Us
  • Advert Rate
  • Contact Us
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Home
  • About Us
  • News
  • Featured
  • Investigations
  • Foreign
  • Special Reports
  • Entertainment
  • Interviews
  • Advert Rate

© Next Edition Business Development Limited