Bear sustains momentum in the equity market as NSE-ASI shed 0.99%
The Nigeria equity market today extended its bearish run, shedding 0.99%. The negative performance was impacted by huge sell-off on consumer goods, oil/gas and banking sectors. Consequently, Market breadth closed negative, recording 10 gainers against 28 losers.
NSE Trading Floor
The All Share Index (ASI) shed 300.73 absolute points, representing a dip of 0.99%, to close at 30,226.77 points. The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; FO (-9.93%), NB (-9.68%), UNILEVER (-8.46%), OANDO (-7.84%), NESTLE (-3.45%), HONYFLOUR (-3.33%), ZENITHBANK (-2.74%) UBA (-2.60%), FLOURMILL (-2.50%), DANGFLOUR (-2.17%), TRANSCORP (-1.65%), FBNH (-1.25%) and UACN (-0.65%).
However, Market Capitalization decreased by N169.01 billion representing a decline of 1.47%, to close at N11.35 trillion. The discrepancy between the NSE-ASI and its market capitalization was due to certain operational reasons on Access Bank Scheme shares, resulting from the merger between Access Bank Plc and Diamond Bank Plc which was not available for trading today, Tuesday 2 April 2019. The Exchange however regretted any inconvenience caused to the holders of the affected shares.
WEMABANK emerged the top gainer while BETAGLAS emerged as the top loser.
|CAP||N11,353,403,577,297.35||One Day (ASI CHG)||-0.99|
|Index||30,226.77||One Week (ASI CHG)||-2.62|
|Volume||376,947,303||One Month (ASI CHG)||-5.03|
|Value||N4,536,372,569.16||Six Months (ASI CHG)||-7.60|
|Deals||4,018||52 Weeks (ASI CHG)||-27.17|
The Naira at the inter-bank rate closed at N307.00 to represent a 0.02% depreciation against yesterday’s closing position.
The Investors and Exporters (I&E) FX window opened at N360.64, traded high at N362.00 and eventually closed at N360.30, representing a 0.08% appreciation against yesterday’s closing position. A total of $357.50 million was transacted through the I&E window today.
Overnight(O/N) rate closed at 17.43%, representing an 11.88% appreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate also closed at 16.57%, representing an 11.57% appreciation against yesterday’s closing position..
|Note: BPS=> Basis Points|
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