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%).
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MARKET STATISTICS- June 06, 2017 YTD: +19.82%
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Cap (N)
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11,131,848,465,551.35
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One Day(ASI CHG)
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-1.16%
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Index
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32,200.38
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One Week(ASI CHG)
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+9.99%
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Volume
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744,992,196
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One Month(ASI CHG)
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+22.74%
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Value (N)
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6,518,929,308.38
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Six Months(ASI CHG)
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+21.87%
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Deals
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7,841
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52 Weeks(ASI CHG)
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+15.40%
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Gainers
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38
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Losers
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22 |
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Un-Changed
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50
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Total
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110
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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.