For the month ending July 29, 2022, FMDQ Securities Exchange reported a total turnover of N19.76 trillion in its secondary market segment.
The amount shows an increase of 8.54 percent (1.55 trillion) from month to month and a rise of 16.45 percent (2.7 trillion) from year to year from turnover reported in July 2021, respectively.
The exchange reports that in July 2022, the spot and derivatives markets’ combined turnover was 17.53 trillion and 2.23 trillion, respectively.
Additionally, the market turnover for spot foreign exchange increased by 5.68% month over month to $3.16 trillion ($7.40 billion) from the turnover of 2.99 trillion in June 2022.
In the forex market, the naira also lost value against the dollar, with the exchange rate rising by 1.43 percent ($6.03) to close at an average of $/427.01 in July 2022 from $/420.98 in June 2022, moving in a range of $/424.17 to $/431.00.
The FMDQ also stated that a total turnover in the derivatives market segment was 2.23 trillion (or $5.20 billion), an increase of 10.9%.
In the meantime, the Nigerian stock market ended two days of losses by closing positively yesterday, with an N65 billion increase in market valuation.
In conclusion, the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) increased by 120.48 absolute points, or 0.25 percent, to settle at 48,675.24 points. Likewise, the market capitalization as a whole increased by N65 billion to conclude at N26.254 trillion.
The price growth of major and medium-capitalized equities, such as Nestle Nigeria, Stanbic IBTC Holdings, Ecobank Transnational Incorporated (ETI), BUA Cement, and NEM Insurance Plc, was the main driver of the market’s favorable performance.
The local market concludes the day positively, reversing a two-day adverse trend, according to GTI Securities Limited. The performance was positive across the board.
“We expect mixed sentiments to continue in the following trading days, as more companies release their Q2 results.”
Additionally, the market breadth ended up being favorable as 16 equities outperformed 11 losers. NEM Insurance experienced the largest price increase, rising 10% to settle at N4.84 kobo.
Following closely behind, Stanbic IBTC Holdings increased by 8.93% to close at N30.50 kobo, and Ecobank TransNational Incorporated (ETI) increased by 8% to close at N10.80 kobo. Japaul Gold and Ventures gained 6.90% to close at 31 kobo, while Cutix gained 7.37% to close at N2.04 kobo.
Fidson Healthcare, on the other hand, topped the losers’ chart by 9.80% to settle at N9.11 per share.
Unity Bank lost 2.33 percent to settle at 42 kobo, and FTN Cocoa Processors fell 9.09 percent to close at 30 kobo.
To close at N3.13 kobo, FCMB Group also experienced a 2.19 percent loss. To close at 55 kobo, AIICO Insurance saw a 1.79 percent decline.
Although there were 3,751 transactions, the overall amount traded fell by 17.92% to 167.569 million units, worth N3.374 billion.
Access Holdings share transactions, totaling 27.898 million shares valued at N231.144 million, topped the list of activities. FBN Holdings traded 22.507 million shares valued at N241.975 million, while United Bank for Africa (UBA) traded 22.949 million shares worth N160.909 million.
Zenith Bank traded 11.860 million shares for N261.112 million, while Guaranty Trust Holding Company (GTCO) traded 16.088 million shares worth N323.988 million.
