Dangote Cement, Others Drag Equity Market to Extend Losing Streak, Posts 2.17% Loss

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GTI CAPITAL LAGOS – The equity market closed lower today, shedding 2.17% to extend downtrend to six straight sessions. Market breadth closed negative, recording 14 gainers against 25 losers.

In summary, the All Share Index (ASI) was down by 786.19 absolute points, representing a dip of 2.17%, closing at 35,446.47 points. Similarly, the Market Capitalization decreased by N287.03 billion, representing a dip of 2.17%, closing at N12.94 trillion.

The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; STERLNBANK (-8.05%), WAPCO (-6.35%), DANGCEM (-6.14%), ETI (-4.97%), FCMB (-4.02%), FLOURMIL; (-3.53%), DANGSUGAR (-3.13%), WEMABANK (-2.86%), DANGFLOUR (-1.20%), HONEYFLOUR (-0.59%) and FIDELITYBK (-0.55%).

MARKET STATISTICS

CAP N12,941,176,541,248.48 One Day (ASI CHG) -2.17 
Index 35,446.47 One Week (ASI CHG) -2.89
Volume 192,995,348 One Month (ASI CHG) -5.28
Value N2,032,790,659.39 Six Month (ASI CHG) -17.81
Deals 3,025 52 Weeks (ASI CHG) -7.20
Gainers 14 Losers 25
Unchanged 74 Total 113

YTD: -7.31

FOREIGN EXCHANGE

The Naira at the inter-bank rate closed unchanged at N306.00, against yesterday’s closing price.

The Investors and Exporters (I&E) FX window opened at N361.75, traded high at N363.50 and eventually closed at N362.00, representing a 0.05% appreciation against yesterday’s closing price. A total of $164.86 million was transacted through the I&E window today.

We expect the FX Market to trade within an existing range in the next session.

MONEY MARKET

Overnight (O/N) rate closed at 9.25%, representing a 0.33% appreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 8.42% representing a 0.42% appreciation against yesterday’s closing position.

We expect the Money Market to trade within an existing range in the next session.

FIXED INCOME

SECURITIES Prev. Close Close Change
BOND 694.93 715.82 +21 bps
T.BILLS 369.49 360.09 -9 bps
Note: BPS => Basis Points
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