The Nigerian equity market on Tuesday shed 0.28% to extend downtrend to two trading sessions. However, market breadth closed positive recording 31 gainers against 28 losers.
In summary, the All Share Index (ASI) shed 93.43 absolute points, representing a decline of 0.28% to close at 33,141.85 points. Similarly, the Market Capitalization shed N29.07 billion, representing a decline of 0.28% to close at N11.46 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; FO (-9.57%), CONOIL (-3.80%), ACCESS (-3.72%), MOBIL (-3.27%), NESTLE (-2.60%), OANDO (-1.84%), UBA (-1.68%), SEPLAT (-1.37%), FBNH (-0.69%) and DANGCEM (-0.15%).
MARKET STATISTICS- June 13, 2017 YTD: +23.32% | |||
Cap (N) | 11,460,545,757,828.34 | One Day(ASI CHG) | -0.28% |
Index | 33,141.85 | One Week(ASI CHG) | +2.92% |
Volume | 410,223,496 | One Month(ASI CHG) | +17.56% |
Value (N) | 5,545,886,112.78 | Six Months(ASI CHG) | +28.89% |
Deals | 6,167 | 52 Weeks(ASI CHG) | +21.96% |
Gainers | 31 | Losers | 28 |
Un-Changed | 55 | Total | 114 |
Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017.
Foreign Exchange
The Naira at the inter-bank market closed at N305.70 against the US Dollar, representing a marginal depreciation of 0.02%. The Investors and Exporters (I&E) FX window opened at N373.19 and closed at N372.71, representing a marginal appreciation of 0.14% over previous close.
We expect the FX market to trade within the current range in the next session.
Money Market
OBB and Overnight rates closed at an average of 24.17% and 26.92%, representing a steep drop from Monday’s closing position of 116.67% and 126.67%.
The CBN conducted a further OMO auction today to mop up excess liquidity, selling a total of N324 million of 184-day and N1.80 billion of 352-day bills at a stop rate of 18.0% and 18.60% respectively.
We expect money market rates to trade within the existing range.
GTISecurities