The Nigerian equity market on Friday ended the week experiencing massive trading activity. The ASI gained 2.10% and further extended bull-run to four days in a row causing the market cap to surpass the 10 trillion mark. Similarly, market breadth closed positive recording 33 gainers against 20 losers.
In summary, the All Share Index (ASI) gained 596.91 absolute points, representing a growth of 2.10% to close at 29,046.52 points. Similarly, the Market Capitalization gained N206.35 billion, representing a growth of 2.10% to close at N10.05 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; FBNH (+10.41%), OANDO (+7.66%), GTB (+5.00%), ETI (+5.00%), ZENITH (+4.99%), FLOURMILLS (+4.98%), ACCESS (+3.97%), STANBIC (+3.61%), UBA (+2.74%),DANGCEM (+2.33%), PRESCO (+2.10%).
MARKET STATISTICS – May 26, 2017
|One Day(ASI CHG)||+2.10%|
|One Week(ASI CHG)||+3.38%|
|One Month(ASI CHG)||+13.44%|
|Six Months(ASI CHG)||+14.73%|
|52 Weeks(ASI CHG)||+0.65%|
The exchange rate remained stable across both segments of the market. In the interbank market, the Naira within the band of N305.40 and N306.40 to a $ as the Central Bank maintained its daily intervention of $1.5million at $/N304.90. The I&E FX window closing rate was N380.23
The CBN conducted an OMO auction to mop up excess liquidity, selling a total of N88.6million of the 14/12/2017 and N14.69billion of the 24/05/2018 maturities at a stop rate of 18.00% and 18.60%.
At the T-bills session, we observed a mixed sentiment as yields moved in irregular pattern. There were slight demands as the market open but this later retraced as sell offs were observed at the short to mid end of the curve. On the average, yield closed higher by 3 basis points across maturities.
The bond market was relatively quiet with only a handful of trades going through and rates relatively stable.