Banking Stocks Push Equity Market Higher, Gains 0.28%
The Equity Market closed higher today, gaining 0.28% due to positive sentiment in banking stocks. The upturn was impacted by gains recorded in medium and large capitalized stocks among which are FBNH, Zenith bank and 21 others. AIICO insurance emerged top gainer. Market breadth closed positive recording 23 gainers against 18 losers.
In summary, the All Share Index (ASI) was up by 96.18 absolute points, representing an increase of 0.28%, closing at 34,933.68 points. Similarly, the Market Capitalization was up by N35.11 billion, representing an increase of 0.28%, closing at N12.75 trillion.
The upturn was aided by gains recorded in medium and large capitalized stocks, amongst which are; OANDO (+4.00%), FBNH (+3.39%), ZENITHBANK(+2.58%), UBA (+1.90%), GUARANTY (+1.51%), and FLOURMILL (+0.23%).
The Naira at the inter-bank rate closed at N306.20 representing a 0.02% depreciation against yesterday’s closing price.
The Investors and Exporters (I&E) FX window opened at N362.35, traded high at N364.00 and eventually closed at N362.11, representing 0.18% appreciation against yesterday’s closing price. A total of $146.49 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 3.92%, representing a 1.50% depreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 3.08% representing a 1.33% depreciation 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 (23)
Top 7 Losers Number of Losers (18)
Top 7 Traders By Volume
Top Traders By Value