Transactions on the trading floor as of Wednesday, 13th of January 2021 showed that the Naira gained across markets as daily turnover falls to lowest since October, 2020. The Naira appreciated to N393.33 per dollar at the NAFEX (I&E Window) from N394 recorded the previous day.
Last week, a depreciation in the price of the Naira against the dollar occurred when the Naira depreciated to N394/$1 from N393.33 recorded the previous day. Meanwhile, the exchange rate at the parallel market (black market) remained stable at N475/$1 as it was the previous day.
Below is the Ventures Africa Weekly Economic Index for the week ending 8th of January, 2021. This economic index gives you a glimpse into other recent activities in Nigeria’s economy as well as changes and prices that could affect the economy.
Nigerian Stock Exchange
Data released by the Nigerian Stock Exchange (NSE), as of January 15, 2021, showed that the NSE All-Share Index and Market Capitalization appreciated by 2.63 percent to close the week at 41,176.14 and N21.530 trillion respectively.
Similarly, all other indices finished higher with the exception of NSE Growth which depreciated by 3.32 percent while the NSE ASeM Index closed flat.
Top five price gainers and decliners in the week under review:
Top five price gainers
- Japaul Gold & Ventures Plc.
- Mutual Benefits Assurance Plc.
- Royal Exchange Plc.
- Axamansard Insurance Plc.
- Champion Brew. Plc.
Top five price decliners
- Cutix Plc.
- Daar Communications Plc.
- Chellarams Plc.
- Deap Capital Management & Trust Plc.
- Union Diagnostic & Clinical Services Plc.
How did the Naira fare?
The Naira has remained stable on the trading floor. The exchange rate closed at N396 per on the 15th of January, 2021 just like it recorded in recorded the previous week.
How did the price of oil fare?
Brent oil prices closed out the week on the 15th of January 2021 at $55.10 per barrel, an increase from the $52.26 per barrel recorded a week earlier.