Naira Falls at I&E, Expected Adoption Drives Cryptos Higher

By Dipo Olowookere

The Nigerian Stock Exchange (NGX) ended the last trading session of February 2022 on a high note with marginal growth of 0.14% on Monday.

Buying pressure, particularly on Okomu Oil, Ecobank, Zenith Bank, Linkage Assurance, Lafarge Africa and 18 others triggered yesterday’s gains.

Consequently, the All-Share Index (ASI) increased by 66.11 points to 47,394.53 points from the previous 47,328.42 points, while the market capitalization increased by 36 billion. to end at 25.543 trillion naira from 25.507 naira on the previous trading day. trillion.

Linkage Assurance was the best performing stock on Monday as its value rose 10.00% to 55 kobo and was followed by Royal Exchange which rose 9.60% to N1.37.

Regency Assurance rose 7.69% to 42 kobos, Sunu Assurances also rose 7.69% to 42 kobos, while Niger Insurance rose 7.14% to 30 kobos.

When the coin flipped, Academy Press emerged as the worst performing stock after losing 9.69% to sell for N1.77 and was followed by RT Briscoe, which fell 9.57% after its recent earnings to settle at 85 kobo.

Jaiz Bank depreciated 5.19% to 73 kobo, Vitafoam was down 4.90% to trade at N22.30, while Africa Prudential was down 4.76% to close at 7.00 NOT.

In terms of sector performance, only the energy meter suffered a loss during the session, down 0.21% while the other four sectors closed higher.

The insurance sector appreciated by 0.99%, the banking sector improved by 0.55%, the consumer goods index increased by 0.29%, while the goods landscape industrial increased by 0.18%.

Business post reports that trading activity improved on Monday, with deal volume and number of deals increasing by 18.73% and 27.38% respectively, while deal value closed flat.

Investors traded 300.8 million shares worth 2.8 billion naira in 5,434 trades yesterday, compared to 253.3 million shares worth 2.8 billion naira traded in 4,266 transactions last Friday.

FCMB ended the day as the most active stock selling 104.4 million units worth N323.6 million, followed by Transcorp with sales of N17.0 million of units worth N20.8 million.

Zenith Bank traded 15.5 million shares valued at N419.4 million, RT Briscoe sold 12.7 million shares for N11.6 million, while Ecobank traded N11.9 million shares for N146.2 million.

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