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Home Business & Economy Equity Market begins extends bearish run to two days
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Equity Market begins extends bearish run to two days

By
Brand Spur
-
August 30, 2017
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    The equity market on Tuesday, remained in the negative territory, shedding 0.42%. Similarly, market breadth closed negative, recording 14 gainers against 26 losers. 
    In summary, the All Share Index (ASI) shed 151.38 absolute points, representing a loss of0.42% to close at 36,165.93 points. Similarly, the Market Capitalization dropped by N52.71 billion, representing a loss of 0.42% to close at N12.47 trillion.
    The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; MOBIL (-5.00%), OKOMU (-4.99%), JBERGER (-4.97%), GUINNESS (-1.09%), DANGCEM (-1.09%), NB (-0.76%), FBNH (-0.34%), UBA (-0.52%), FLOURMILLS and 7UP (-0.13%).

    MARKET STATISTICS- August 29, 2017                                                YTD:+34.57%
     Cap (N)
    12,465,411,559,931.33
    One Day(ASI CHG)
     -0.42%
    Index
    36,165.93                  
    One Week(ASI CHG)
     -2.24%
    Volume
    144,452,204
    One Month(ASI CHG)
     -1.89%
    Value (N)
    1,511,836,213.27
    Six Months(ASI CHG)
     +46.71%
    Deals
    3,716
    52 Weeks(ASI CHG)
     +34.64%
    Gainers
    14                                   
    Losers
     26
    Un-Changed
    61
    Total     
     101
    Also, find in the ‘link’Corporate Benefits & Relevant Dates reported thus far in 2017.
    Foreign Exchange
    The Naira at the inter-bank (official) market closed marginally down at N305.85, representing 0.02% decline against the US Dollar. The Investors and Exporters (I&E) FX window opened at N360.66, traded high at N363.00 and eventually closed at N359.67, representing marginal 0.02% decline. A total of $107.46 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 14.25% and 15.00%, representing an decline from Monday’s closing position of 25.00% and 26.75% respectively.
    The CBN conducted OMO auctions today to mop up excess liquidity. A total of N20.00 billion was offered on 100-day maturity, but they was zero investors’ participation on it, arguably on a low interest rate. On the second auction, a total of N50.00 million of 177-day maturity was sold at a stop rate of 17.95%. Total offer was N50.00 billion.
    We expect money market to trade with existing volatility in the next session. 
    GTICapital

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    • TAGS
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    • ASI
    • bearish
    • equity market
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