Selloff in Banking and Industrial Stocks Leads Equity Index to 0.78% Loss

Selloff in Banking and Industrial Stocks Leads Equity Index to 0.78% Loss

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The Equity Market closed lower on Wednesday, shedding 0.78% to reverse Monday’s gain. Market breadth closed negative, recording 10 gainers and 22 losers.

In summary, the All Share Index (ASI) was down by 252.45 absolute points, representing a decrease of 0.78%, closing at 31,969.79 points. Similarly, Market Capitalization decreased by N92.17 billion representing a dip of .78%, closing at N11.89 trillion.

MOBIL emerged the top gainer while UNITY BANK emerged the top loser.

The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; WAPCO (-6.25%), CADBURY (-3.66%), ETI (-3.13%), GUARANTY (-2.98%), HONYFLOUR (-2.88%), DANGCEM (-1.72%)  CCNN (-1.36), DANGSUGAR (-0.77%), FBNH (-0.66%), ACCESS (-0.65) and ZENITHBANK (-0.41%).

MARKET STATISTICS

CAPN11,671,441,021,351.54One Day (ASI CHG)-0.78
Index31,969.79One Week (ASI CHG)-0.43
Volume237,746,984One Month (ASI CHG)-2.65
ValueN3,503,007,036.93Six Months (ASI CHG)-20.92
Deals3,35952 Weeks (ASI CHG)-12.65
Gainers10Losers22
Unchanged61Total93
YTD Returns-16.40

FOREIGN EXCHANGE

The Naira at the inter-bank rate remains unchanged to close at N306.75  against Monday’s closing price.

Read:  C40 Cities’ Financing Sustainable African Cities Forum calls for urgent investor action to secure a sustainable future for all citizens

The Investors and Exporters (I&E) FX window opened at N363.80, traded high at N364.75 and eventually closed at N364.26, representing a 0.16% depreciation against Monday’s closing price. A total of $129.06 million was transacted through the I&E window today.

MONEY MARKET

Overnight (O/N) rate closed at 10.67%, representing a 0.17% depreciation against Monday’s closing position, while Open Buy-Back (OBB) rate also closed  at 9.67% representing a 0.50% depreciation against Monday’s closing position.

FIXED INCOME
SecuritiesP. CloseCloseChange
Bond844.65847.22+2.57 bps
T.Bills447.87448.57+0.70 bps
Note: BPS=> Basis Point

Source: FMDQGTI Research

Read:  Equity market sheds 1.05% to begin the week in the red.

Sector Performance

Sector%    Change
NSE30-0.68
BANKING-1.55
CONSUMER GOODS0.18
INDUSTRIAL-2.58
INSURANCE0.26
LOTUS ISLAMIC-0.49
OIL/GAS1.10

Top 7 Gainers

CompanyPcloseOpenCloseChange% Change
MOBIL15015016515.0010.00
PRESTIGE0.610.610.670.069.84
UNIONDAC0.230.230.250.028.70
VERITASKAP0.230.230.250.028.70
STANBIC4848502.004.17
FLOURMILL181818.60.603.33
NPFMCRFBK1.491.491.530.042.68
Read:  Equity & Money Market Summary: Equity Market gains 0.06% halting bearish rally.

Top 7 Losers

CompanyPcloseOpenCloseChange% Change
UNITYBNK0.930.930.85-0.08-8.60
JAIZBANK0.490.490.45-0.04-8.16
WAPCO161615-1.00-6.25
PRESCO66.2566.2562.15-4.10-6.19
CADBURY9.559.559.2-0.35-3.66
DIAMONDBNK0.890.890.86-0.03-3.37
ETI161615.5-0.50-3.13

Top 7 Traders By Volume

CompanyVolumeValue(₦)Current Price
OANDO                      58,563,684.00                298,646,907.955.1
ZENITHBANK                      23,990,494.00                577,592,509.6024
FCMB                      21,642,196.00                  33,125,020.161.51
GUARANTY                      20,834,338.00                759,558,579.5535.85
FIDELITYBK                      16,136,937.00                  31,628,942.571.98
INTBREW                      14,119,220.00                434,142,700.0030.75
FBNH                      11,053,442.00                  82,752,620.757.55

Top 7 Traders By Value

CompanyVolumeValue(₦)Current Price
GUARANTY                      20,834,338.00                759,558,579.5535.85
ZENITHBANK                      23,990,494.00                577,592,509.6024
STANBIC                        9,302,846.00                477,422,696.0050
INTBREW                      14,119,220.00                434,142,700.0030.75
OANDO                      58,563,684.00                298,646,907.955.1
DANGCEM                           953,866.00                190,941,296.30200
UNILEVER                        2,882,639.00                113,776,375.9039.5
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