The Nigerian Local market closed the transaction for the first trading day in August on a positive note, thereby extending the positive sentiment to two consecutive trading sessions, as NGX-ASI grew by 0.15%.
Bargain hunters buying interest, particularly in the Banking sector majorly led to the positive performance in today’s trading period, as investors continue to assess the published H1 performance of some of the companies and await the release of more. However, the market breadth closed negatively, recording 26 losers as against 17 gainers.

In summary, the All-Share Index (ASI) grew by 57.64 absolute points, representing an increase of 0.15%, to close at 38,604.72 points. Similarly, the overall Market Capitalization value grew by N50.03 billion, representing an increase of 0.15% to close at N20.13 trillion.

JBERGER emerged as the top gainer (by percentage points) for today, with a maximum price appreciation of +8.89%, while ETERNAL emerged as the top loser (by percentage points) with a maximum price depreciation of -10.00%.

Today’s market positive performance was driven by price appreciation in large and medium capitalized stocks amongst which are; REGALINS (+7.14%), LINKASSURE (+6.67%), MBENEFIT (+5.41%), CHIPLC (+5.17%), COURTVILLE (+4.35%), WEMABANK (+2.44%), FTNCOCOA(+2.08%), MTNN (+1.82%), UNILEVER (+1.43%), NASCON (+1.38%), FBNH (+1.35%), ETI (+0.95%), AFRIPUD (+0.79%), CUTIX (+0.42%), and ZENITHBANK (+0.20%).

FMDQ
The overnight (O/N) rate closed at 7.75% on Friday (30/07/2021), depreciating by 3.25% against Thursday’s position. while Open Buy-Back (OBB) rate closed at 7.50% on Friday (30/07/2021), depreciating also by 4.75% against Thursday’s position.

The I&E FX window traded high and low at N412.25 and N400.00 respectively on (30/07/2021) and eventually closed at N411.44, representing an appreciation of 0.06% against Thursday’s closing position. Also, at the BDC, the naira appreciated by 1.90% to closed at N515.

Nigeria’s foreign reserve strengthened by $25.63 million to $33.38 billion on (29/07/2021) from $33.36billion on (28/07/2021).

The Brent crude increased by $0.31 to $75.41 on (30/07/2021) from $75.10 (29/07/2021), representing a 1.67% rise in price. Bonny Light appreciated by $0.20 to $74.32 on (30/07/2021) from $74.12 (29/07/2021), representing a 0.27% increase in price.

SOURCE:https://brandspurng.com/2021/08/02/banking-sector-local-market-green-zone-investor/