FMDQ secondary market posts N19.7tr turnover in July
• As NGX capitalisation rises by N65 billion
FMDQ Securities Exchange has posted a total turnover of N19.76 trillion in its secondary market segment for the month ended July 29, 2022.
The figure represents a month-on-month (MoM) increase of 8.54 per cent (₦1.55 trillion) and a year-on-year (YoY) increase of 16.45 per cent (₦2.79 trillion) from turnover posted in July 2021 respectively.
According to the exchange, the total turnover for the spot and derivatives market was ₦17.53 trillion and ₦2.23 trillion respectively in July 2022.
Also, Spot foreign exchange’s market turnover stood at ₦3.16 trillion ($7.40 billion), representing a month-on-month increase of 5.68 per cent from the turnover recorded in June 2022 (₦2.99 trillion).
Furthermore, the naira depreciated against the dollar in the forex market, with the exchange rate increasing by 1.43 per cent ($/₦6.03) to close at an average of $/₦427.01 in July 2022 from $/₦420.98 recorded in June 2022, trading within a range of $/₦424.17 – $/₦431.00.
FMDQ also added that a total turnover in the market segment of the derivatives stood at ₦2.23 trillion ($5.20 billion), representing an increase of 10.9 per cent.
Meanwhile, the Nigerian equities market ended two days of losses to close in an upbeat yesterday as market capitalisation rose by N65 billion.
In summary, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) grew by 120.48 absolute points, representing a rise of 0.25 per cent, to close at 48,675.24 points. Similarly, the overall market capitalisation value gained N65 billion to close at N26.254 trillion
The market’s positive performance was driven by price appreciation in large and medium-capitalised stocks which are, Nestle Nigeria, Stanbic IBTC Holdings, Ecobank Transnational Incorporated (ETI), BUA Cement and NEM Insurance Plc.
GTI Securities Limited said, “The domestic market closes the day positive to reverse a two-day bearish sentiment. All sectors recorded positive performance.
“We expect mixed sentiments to continue in the following trading days, as more companies release their Q2 results.”
Also, market breadth closed positive as 16 stocks gained relative to 11 losers. NEM Insurance recorded the highest price gain of 10 per cent to close at N4.84 kobo.
Stanbic IBTC Holdings followed with a gain of 8.93 per cent to close at N30.50 kobo and Ecobank TransNational Incorporated (ETI) went up by eight per cent to close at N10.80 kobo. Cutix garnered 7.37 per cent to close at N2.04 kobo while Japaul Gold and Ventures appreciated by 6.90 per cent to close at 31 kobo.
On the other hand, Fidson Healthcare led the losers’ chart by 9.80 per cent to close at N9.11, per share. FTN Cocoa processors followed with a decline of 9.09 per cent to close at 30 kobo, while Unity Bank lost 2.33 per cent to close at 42 kobo.
FCMB Group also declined by 2.19 per cent to close at N3.13 kobo. AIICO Insurance shed 1.79 per cent to close at 55 kobo.
However, the total volume traded decreased by 17.92 per cent to 167.569 million units, valued at N3.374 billion, and exchanged in 3,751 deals.
Transactions in the shares of Access Holdings topped the activity chart with 27.898 million shares valued at N231.144 million. United Bank for Africa (UBA) followed with 22.949 million shares worth N160.909 million, while FBN Holdings traded 22.507 million shares valued at N241.975 million.
Guaranty Trust Holding Company (GTCO) traded 16.088 million shares valued at N323.988 million, while Zenith Bank transacted 11.860 million shares worth N261.112 million.