The equity market on Thursday shed 0.29%, reversing yesterdays uptrend.Similarly, market breadth closed negative, recording 19 gainers against 27 losers.
In summary, the All Share Index (ASI) shed 105.37 absolute points, representing a decline of 0.29% to close at 36,517.48 points. The Market Capitalization gained N36.47 billion, representing a decline of 0.29% to close at N12.64 trillion.
The Downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; FO (-5.00%), INTBREW (-4.99%), PZ (-4.17%), NB (-3.73%), GUARANTY (-0.71%), UBA (-0.64%) and MOBIL (-0.26%).
MARKET STATISTICS- October 26, 2017 YTD:+35.88% | |||
Cap (N) | 12,638,592,329,812.08 | One Day(ASI CHG) | -0.29% |
Index | 36,517.48 | One Week(ASI CHG) | -0.35% |
Volume | 356,807,814 | One Month(ASI CHG) | +4.48% |
Value (N) | 4,224,335,648.51 | Six Months(ASI CHG) | +44.44% |
Deals | 4,384 | 52 Weeks(ASI CHG) | +32.28% |
Gainers | 19 | Losers | 27 |
Un-Changed | 46 | Total | 92 |
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 at N305.75 against the US Dollar, representing 0.02% depreciation against previous close. The Investors and Exporters (I&E) FX window opened at N359.65, traded high at N362.00 and eventually closed atN360.40, representing a marginal depreciation of 0.01%. A total of $150.33 million was transacted through the I&E window.
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 16.50% and 18.58%, representing 80.17% and 82.42% downtrend from previous closing positions respectively.
We expect the money market rates to further drop lower considering the existing liquidity in the system.