The Nigerian equity market on Monday gained 0.73%, to begin the week in the green. The ASI gained 0.73%, extending the bullish run to five trading days in a row. Similarly, market breadth closed positive recording 29 gainers against 17 losers.
In summary, the All Share Index (ASI) gained 212.07 absolute points, representing a growth of 0.73% to close at 29,276.59points. Similarly, the Market Capitalization gained N73.33 billion, representing a growth of 0.73% to close at N10.12 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; FBNH (+7.98%), FLOURMILLS (+4.98%), ACCESS (+4.08%), PRESCO (+4.06%), UBA (+2.93%), ZENITH (+1.93%), GTB (+1.47%), WAPCO (+1.16%), NB (+0.69%) and DANGCEM (+0.18%)
Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017.
MARKET STATISTICS – May 30, 2017
|Cap (N)||10,121,078,933,387.98||One Day(ASI CHG)||+0.73%|
|Index||29,276.59||One Week(ASI CHG)||+4.21%|
|Volume||832,517,967||One Month(ASI CHG)||+13.66%|
|Value (N)||7,591,474,768.14||Six Months(ASI CHG)||+14.73%|
|Deals||6,259||52 Weeks(ASI CHG)||+0.65%|
In the interbank market, the Naira traded within the band of N305.35 and N305.40 for extended period and eventually closed at N305.35, representing appreciation of 0.02%. The I&E FX window closing rate was 381.44 representing 0.35% depreciation against previous close.
We expect the FX market to relatively quiet this week.
OBB and Overnight rates closed at an average of 11.86% and 12.43% respectively. The CBN conducted an OMO auction to mop up excess liquidity, selling a total of N16.0million of the 7/12/2017 and N2.72billion of the 24/05/2018 maturities at a stop rate of 18.00% and 18.60% respectively.
We expect the market to remain this way to close the week.
The bills market was relatively quiet today as marginal activity took place at the short and long end of the curve. On the average, yield closed lower by 3 basis points across traded maturities.
We expect another mixed session tomorrow.