The Nigerian equity market on Friday gained 1.03%, ending the week in the green and also extending bull-run to three trading sessions in a row. Similarly, market breadth closed positive recording 44 gainers against 17 losers.
In summary, the All Share Index (ASI) gained 338.70 absolute points, representing a growth of 1.03% to close at 33,276.68 points. Similarly, the Market Capitalization gained N117.09 billion, representing a growth of 1.03% to close at N11.50 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; SEPLAT (+10.25%), FO (+10.23%), INTBREW (+10.23%), FBNH (+5.74%), PRESCO (+4.99%), WAPCO (+2.58%), UBA (+1.81%), ACCESS (+1.27%), ZENITH (+1.12%), ETI (+0.96%) and TOTAL (+0.89%).
MARKET STATISTICS- June 09, 2017 YTD: +23.82% | |||
Cap (N) | 11,503,932,152,713.68 | One Day(ASI CHG) | +1.03% |
Index | 33,276.68 | One Week(ASI CHG) | +6.07% |
Volume | 686,304,237 | One Month(ASI CHG) | +24.37% |
Value (N) | 6,070,338,628.87 | Six Months(ASI CHG) | +28.89% |
Deals | 6,785 | 52 Weeks(ASI CHG) | +21.96% |
Gainers | 44 | Losers 17 | 17 |
Un-Changed | 51 | Total 112 | 112 |
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, extending flat position to day three in a row. The CBN continued its daily intervention of N1.5million to the Greenback at N305.05. The Investors and Exporters (I&E) FX window closed at N373.28, representing a marginal appreciation of 0.45% over previous close.
We expect the FX market to trade at its current range next week.
Money Market
OBB and Overnight rates closed at an average of 17.67% and 18.50%, representing a steep decrease from Thursday’s closing position of 78.33% and 81.67%.
The CBN conducted a further OMO auction today to mop up excess liquidity, selling a total of N3.5 billion of 181-day and N14.97 billion of 342-day bills at a stop rate of 18.00% and 18.60% respectively.
We expect money market to trade in mixed zone next week.
GTICapitalLtd.