Nigeria stocks gain N992 billion on reports that Banks can trade forex “freely”

NAIRAMETRICS 

• Key Market Indices closed positive as NGX reacts positively to the reports that central banks have given commercial banks and dealers in the forex market the green light to sell forex freely.
• The All-Share Index (ASI) traded 3.13% higher to close at 59,985.10 points as market capitalization gained N992 billion to close at N32.662 trillion.
• International Breweries (10.00%) led the losers while UBA Plc was the most traded equity in terms of volume.

The Nigerian Exchange (NGX) closed positive at the end of today’s trading session.

Nairametrics earlier reported that central banks have given commercial banks and dealers in the forex market the green light to sell forex freely.

The All-Share Index (ASI) traded 3.99% higher to close at 59,985.10 index points as against 58,163.55 index points recorded in the previous day’s trading session.

The market capitalization of equities appreciated by N992 billion to close at N32.662 trillion, a 3.13% gain compared to the N31.670 trillion recorded in the previous trading session.

Market breadth closed positive as International Breweries (10.00%) led gainers, Pharm Deko (-9.65%) led losers while UBA Plc was the most traded equity – by volume – at the end of today’s session…