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