The equity market on Monday shed 2.77% to begin the week in the red and also continue previous bearish run. Similarly, market breadth closed negative, recording 23 gainers against 27 losers.
In summary, the All Share Index (ASI) shed 1020.71 absolute points, representing a loss of 2.77% to close at 35844.00 points. Similarly, the Market Capitalization shed N351.79 billion, representing a loss of 2.77% to close at N12.35 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; DANGCEM (-4.99%), GTB (-4.99%), WAPCO (-4.99%), ZENITH(-4.98%), STANBIC (-4.34%), NB (-2.69%), UBA (-1.12%) and ACCESS (-0.59%).
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MARKET STATISTICS- July 31, 2017 YTD: +33.37%
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Cap (N)
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12,353,660,900,679.92
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One Day(ASI CHG)
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-2.77%
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Index
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35,844.00
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One Week(ASI CHG)
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+3.44%
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Volume
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490,164,026
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One Month(ASI CHG)
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+37.67%
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Value (N)
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5,265,814,588.76
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Six Months(ASI CHG)
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+40.02%
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Deals
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5,558
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52 Weeks(ASI CHG)
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+31.44%
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Gainers
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23
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Losers
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27 |
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Un-Changed
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53
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Total
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103 |
Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017.
Foreign Exchange
The Naira at the inter-bank market closed flat at N305.65 against the US Dollar. The Investors and Exporters (I&E) FX window opened at N367.04 and closed at N367.88. A total of $53.24 million was transacted.
We expect the FX market to trade within existing range in the next session.
Money Market
OBB rate closed at an average of 5.17%, representing a downtrend from Friday’s closing position of 5.83% while Overnight rate closed at an average of 5.75% representing an uptrend from Friday’s closing position of 5.00%.
The CBN further conducted an OMO auction to mop up excess liquidity, selling a total of N8.84 billion of 185-day maturities and N51.96 billion of 332-day maturities at a stop rate of 17.95% and 18.55% respectively.
We expect money market to trade within existing volatility in the next session.
(GTISecurites)