The Nigerian equity market on Friday gained 3.49%, to continue movement in the positive territory. Similarly, market breadth closed positive recording 51 gainers against 7 losers.
In summary, the All Share Index (ASI) gained 1057.49 absolute points, representing a growth of 3.49% to close at 31,371.63 points. Similarly, the Market Capitalization gained N365.58 billion, representing a growth of 3.49% to close at N10.85 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; FBNH (+10.12%), UBA (+6.73%), ACCESS (+6.31%), NESTLE (+5.00%), DANGCEM (+5.00%), FLOURMILLS (+4.99%), OKOMU (+4.76%), GUINNESS (+2.82%), ZENITH (+2.51%), WAPCO (+2.13%), NB (+2.01%), STANBIC (+1.89%).
| MARKET STATISTICS – June 02, 2017 | YTD: +16.73% | ||
| Cap (N) | 10,845,347,307,117.93 | One Day(ASI CHG) | +3.49% |
| Index | 31,371.63 | One Week(ASI CHG) | +7.94% |
| Volume | 708,411,054 | One Month(ASI CHG) | +24.16% |
| Value (N) | 8,255,569,100.78 | Six Months(ASI CHG) | +21.87% |
| Deals | 6,039 | 52 Weeks(ASI CHG) | +15.40% |
| Gainers | 51 | Losers | 7 |
| Un-Changed | 61 | Total | 119 |
Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017.
Foreign Exchange
The Naira at the inter-bank market firmed up today with a 0.31% appreciation against the previous reading to close at N305.50. The I&E FX window closed at 379.50, representing an appreciation of 0.25% over previous close.
We expect the FX market to continue at its current range in next week.
Money Market
OBB and Overnight rates closed at an average of 8.33% and 9.08%, representing a marginal dip from yesterday’s position of 8.87% and 8.42% respectively.
The CBN conducted an OMO auction to mop up excess liquidity, selling a total of N3.56 billion of the 14/12/2017 and N78.24 billion of the 25/05/2018 maturities at a stop rate of 18.00% and 18.60%.
We expect money market to trade in mixed zone next week.
