The Nigerian equity market on Tuesday shed 1.16% due to profit taking, bringing to a halt previous nine days bull-run. Conversely, market breadth closed positive recording 38 gainers against 22 losers.
In summary, the All Share Index (ASI) shed 378.00 absolute points, representing a decline of 1.16% to close at 32,578.38 points. Similarly, the Market Capitalization shed N130.68 billion, representing a decline of 1.16% to close at N11.13 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; MOBIL (-9.75%), DANGCEM (-5.00%), UNILEVER (-4.53%), CONOIL (-4.06%), GTB (-0.32%), FBNH (-0.28%) and ZENITH (-0.15%).
MARKET STATISTICS- June 06, 2017 YTD: +19.82% | |||
Cap (N) | 11,131,848,465,551.35 | One Day(ASI CHG) | -1.16% |
Index | 32,200.38 | One Week(ASI CHG) | +9.99% |
Volume | 744,992,196 | One Month(ASI CHG) | +22.74% |
Value (N) | 6,518,929,308.38 | Six Months(ASI CHG) | +21.87% |
Deals | 7,841 | 52 Weeks(ASI CHG) | +15.40% |
Gainers | 38 | Losers | 22 |
Un-Changed | 50 | Total | 110 |
Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017.
Foreign Exchange
The Naira at the inter-bank market close at N305.55 against the US Dollar, same as was recorded a day earlier. The Investors and Exporters (I&E) FX window closed at N378.20, representing a marginal depreciation of 0.08% over previous close.
We expect the FX market to continue at its current range in next session.
Money Market
OBB and Overnight rates closed at an average of 11.91% and 12.50%, representing a moderate increase from Monday’s position of 9.33% and 9.67% respectively. This was on the ground of increased tightening by the CBN.
The CBN conducted a further OMO auction today to mop up excess liquidity, selling a total of N184 million of 191-day and N18.08 billion of 345-day maturities at a stop rate of 18.00% and 18.60% respectively.
We expect money market to trade in mixed zone next session.