The equity market on Wednesday gained 0.26% sustaining yesterdays uptrend. However, market breadth closed negative, recording 17 gainers against 21 losers.
In summary, the All Share Index (ASI) gained 96.73 absolute points, representing a growth of 0.26% to close at 37,059.21 points. Similarly, the Market Capitalization gained N34.20billion, representing a growth of 0.26% to close at N12.77trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; ACCESS (+3.96%), FIDSON (+2.81%), STANBIC (+2.24%), ZENITHBANK (+1.95%),UBA (+1.28%), DANGSUGAR (+1.25%), NB (+1.10%) and GTB (+0.22%).
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MARKET STATISTICS- August 23, 2017 YTD:+37.90%
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Cap (N)
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12,773,301,464,781.02
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One Day(ASI CHG)
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+0.26%
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Index
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37,059.21
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One Week(ASI CHG)
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+0.26%
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Volume
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264,286,957
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One Month(ASI CHG)
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+8.91%
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Value (N)
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5,530,955,929.92
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Six Months(ASI CHG)
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+46.71%
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Deals
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3,849
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52 Weeks(ASI CHG)
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+34.64%
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Gainers
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17
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Losers
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21 |
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Un-Changed
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50
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Total
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88
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Foreign Exchange
The Naira at the inter-bank market closed at N305.75 against the US Dollar, representing a marginal depreciation against previous close. The Investors and Exporters (I&E) FX window opened at N361.38 and closed at N359.60. A total of $100.29 million was transacted.
We expect the FX market to trade within existing range in the next session.
Money Market
OBB and O/N rates closed at an average of 24.17% and 25.17%, representing an uptrend from Tuesday’s closing position of 18.00% and 18.58% respectively.
The CBN conducted an OMO auction today to mop up excess liquidity, selling a total of N580 million of 183-day maturities and N57.70 billion of 344-day maturities at a stop rate of 17.95% and 18.55% respectively.
We expect money market to trade with existing volatility in the next session.
