The equity market closed higher today as it gained 0.84%, extending uptrend to three consecutive trading sessions. The growth was aided by the sterling performance of UBA, SEPLAT, and 29 others. Market breadth closed positive, recording 31 gainers against 22 losers.
In summary, the All Share Index (ASI) was up by 309.08 absolute points, representing a growth of 0.84%, closing at 36,946.05 points. Similarly, the market capitalization increased by N111.97 billion, representing a growth of 0.84% closing at N13.38 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; SEPLAT (+10.00%), OANDO (+9.52%), FLOURMILL (+8.47%), TRANSCORP (+5.74%), PZ (+5.61%), UBN (+5.36%), FO (+4.38%), DANGSUGAR (+3.03%), ETI (+3.39%), GUARANTY (+2.27%), UBA (+1.03%), FBNH (+0.50%), NB (+0.48%) and NESTLE (+0.07%).
MARKET STATISTICS
| CAP | N13,383,726,077,111.07 | One Day (ASI CHG) | +0.84 |
| Index | 36,946.05 | One Week (ASI CHG) | +0.64 |
| Volume | 319,404,219 | One Month (ASI CHG) | -3.48 |
| Value | N3,048,305,575.31 | Six Month (ASI CHG) | -16.61 |
| Deals | 4,091 | 52 Weeks (ASI CHG) | +3.07 |
| Gainers | 31 | Losers | 22 |
| Unchanged | 51 | Total | 104 |
YTD: -3.39
FOREIGN EXCHANGE
The Naira at the inter-bank rate closed unchanged at N305.90 against Friday’s closing price.
The Investors and Exporters (I&E) FX window opened at N361.95, traded high at N363.00 and eventually closed at N361.78, representing a 0.14% appreciation against Friday’s closing price. A total of $106.26 million was transacted through the I&E window today.
We expect the FX Market to trade within the existing range in the next session.
MONEY MARKET
Overnight (O/N) rate closed at 9.92%, representing a 2.67% appreciation against Friday’sclosing position, while Open Buy-Back (OBB) rate closed at 9.42% representing a 2.58% appreciation against Friday’s closing position.
We expect the Money Market to trade within an existing range in the next session.
| SECURITIES | Prev. Close | Close | Change |
| BOND | 680.68 | 678.76 | -2 |
| T.BILLS | 392.44 | 378.53 | -14 |
| Note: BPS => Basis Points |
Please note that Mutual Benefits Assurance Plc has proposed Rights Issue of 4,000,000,000 ordinary shares of 50 Kobo each at the offer price of 50 Kobo per share on the basis of one (1) new ordinary share for every two (2) ordinary shares held as at 1 November 2017. Offer for subscription will open as shown below:
- Acceptance list opens: Monday, 6 August 2018
- Acceptance list closes: Friday, 14 September 2018.