FMDQ records secondary market turnover of N21.70trn in October

…implies 60.27% YoY increase

FMDQ Exchange has released its markets monthly report for October which shows secondary market turnover of N21.70trillion.

This level of turnover in October represents a month-on-month (MoM) decrease of 6.75percent (N1.57trillion) and year-on-year (YoY) increase of 60.27percent (N8.16trillion) from the turnover recorded in September 2023 and October 2022, respectively.

Total turnover for Spot and Derivatives Market was N20.48trillion and N1.22trillion respectively in October 2023. Spot FX Market Turnover was $4.66billion (N3.66trillion) in October 2023, representing a MoM decrease of 14.96percent ($0.82billion) from the turnover recorded in September 2023 ($5.48billion).

Equities market closes higher by 0.11%

By Iheanyi Nwachukwu • November 30, 2023

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.