6 Out of 7 Sectors Drag Equity Market Down By 1.49%
The Equity Market today shed 1.49% to reverse yesterday’s gains. The downtrend was driven by decline in six out of seven sectors, especially the oil/gas and industrial sectors.
In summary, the All Share Index (ASI) was down by 519.31 absolute points, representing an decrease of 1.49%, closing at 34,414.37 points. Similarly, the Market Capitalization was down by N189.59 billion, representing an decrease of 1.49%, closing at N12.56 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; SEPLAT (-7.23%), FLOURMILL (-3.64%), DANGCEM (-3.04%), STANBIC (-2.08%), ZENITHBANK (-2.05%), WAPCO (-1.91%), FBNH (-1.64%), ACCESS (-1.60%) GUARANTY (-1.08%) UBA (-0.62%) and FO (-0.75%).
The Naira at the inter-bank rate closed unchanged at N306.20 against yesterday’s closing price.
The Investors and Exporters (I&E) FX window opened at N362.41, traded high at N364.00 and eventually closed at N363.04, representing 0.26% depreciation against yesterday’s closing price. A total of $174.25 million was transacted through the I&E window today.
We expect the FX Market to trade within existing range in the next session.
Overnight (O/N) rate closed at 4.00%, representing a 0.08% appreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 3.17% representing a 0.08% appreciation against yesterday’s closing position.
We expect the Money Market to trade within existing range in the next session.
Top 7 Gainers Number of Gainers (20)
Top 7 Losers Number of Losers (26)
Top 7 Traders By Volume
Top 7 Traders By Value