The Nigerian equity market on Friday shed 2.45% to close the week in the red, and extend bearish run to three consecutive trading sessions. Similarly, market breadth closed negative recording 21 gainers against 33 losers.
Downtrend from the three trading sessions beginning from Wednesday resulted in Market Capitalization loosing N779.88 billion and ASI shedding 2253.46 absolute points.
In summary, the All Share Index (ASI) shed 806.30 absolute points, representing a decline of 2.45% to close at 32,122.14 points. Similarly, the Market Capitalization shed N278.82 billion, representing a decline of 2.45% to close at N11.11 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; UBA (-9.57%), FLOURMILLS (-5.92%), OKOMU (-5.00%), WAPCO (-4.99%), DANGCEM(-4.59%),ACCESS (-3.90%), NB (-3.88%), FBNH (-3.13%), ZENITH (-0.49%) and ETI (-0.23%).
MARKET STATISTICS- June 23, 2017 YTD: +19.53% | |||
Cap (N) | 11,107,927,530,111.58 | One Day(ASI CHG) | -2.45% |
Index | 32,122.14 | One Week(ASI CHG) | -4.99% |
Volume | 417,568,366 | One Month(ASI CHG) | +14.34% |
Value (N) | 3,246,563,461.08 | Six Months(ASI CHG) | +21.28% |
Deals | 5,456 | 52 Weeks(ASI CHG) | +3.38% |
Gainers | 21 | Losers | 33 |
Un-Changed | 71 | Total | 125 |
Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017.
Foreign Exchange
The Naira at the inter-bank market remained flat at N305.85 against the US Dollar. The Investors and Exporters (I&E) FX window opened at N366.22 and closed at N362.16, representing an appreciation of 0.23%.
We expect the FX market to trade within the current range in the next week.
Money Market
OBB and Overnight rates closed at an average of 8.75% and 9.50% respectively, , representing an uptrend from Thursday’s closing position of 8.50% and 9.08%.
We expect money market to continue with existing volatility in the next week.
We expect money market to continue with existing volatility in the next week.
The CBN conducted a further OMO auction today, to mop up excess liquidity, selling a total of 383.1 million of 167-day and 20 billion of 356-day at a stop rate of 18.0% and 18.6% respectively.
