Equity market sustains uptrend as ASI gains 0.77%

The Nigerian equity market on Thursday gained 0.77%, sustaining yesterdays uptrend. Similarly, market breadth closed positive recording 45 gainers against 15 losers.

In summary, the All Share Index (ASI) gained 251.26 absolute points, representing a growth of 0.77% to close at 32,937.98
points. Similarly, the Market Capitalization gained N86.86 billion, representing a growth of 0.77% to close at N11.39 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; FO (+10.22%), INTBREW (+10.21%), SEPLAT (+10.14%), ACCESS (+7.31%), PRESCO (+4.99%), OKOMU (+4.99%), FBNH (+3.44%), FLOURMILL (+2.86%), ZENITH (+2.35%), TOTAL (+1.63%),  NB (+0.96%) andOANDO (+0.12%).
MARKET STATISTICS – June 08, 2017                                     YTD:   +22.56%
Cap (N)
One Day(ASI CHG)
One Week(ASI CHG)
One Month(ASI CHG)
Value (N)
Six Months(ASI CHG)
52 Weeks(ASI CHG)
Total      111                        
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 N305.60 against the US Dollar, same as was traded a day earlier. The CBN maintained  its daily intervention of N1.5million to the Greenback at N305.05. The Investors and Exporters (I&E) FX window closed at N373.53, representing a marginal appreciation of 0.96% over previous close.
We expect the FX market to trade at its current range in next session.
Money Market
OBB and Overnight rates closed at an average of 78.33% and 81.67%, representing a steep increase from Wednesday’s closing position of 25.00% and 27.80%. This sharp uptrend 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 N1.98 billion of 189-day and N14.79 billion of 357-day at a stop rate of 18.00% and 18.60% respectively.   

We expect money market to trade in mixed zone next session.
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