Equity market slumped further on heightened political risk
The equity market performance index (NSE-ASI) shed 2.33% to extend downtrend to six consecutive trading days in the New Year as Election jitters continue to weigh on market performance. Industrial goods and Insurance sectors emerged top losers as market breadth closed negative, recording 14 gainers against 19 losers.
NSE Trading Floor
The All Share Index (ASI) shed 699.35 absolute points, representing a decrease of 2.33%, closing at 29336.80 points. Similarly, Market Capitalization shed N260.79 billion representing a dip of 2.33%, closing at N10.94 trillion.
JBERGER emerged the top gainer while UPL emerged the top loser.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; DANGCEM (-8.60%), ACCESS (-5.98%), HONYFLOUR (-4.39%), GUARANTY (-2.19%), WEMABANK (-1.69%), FBNH (-1.40%), DIAMONDBANK (-1.05%), DANGFLOUR (-0.88%) and UBA (-1.59%).
|CAP||N10,939,958,267,409.23||One Day (ASI CHG)||-2.33|
|Index||29,336.80||One Week (ASI CHG)||-5.58|
|Volume||234,897,039||One Month (ASI CHG)||-4.96|
|Value||N2,245,499,815.38||Six Months (ASI CHG)||-22.08|
|Deals||3,806||52 Weeks (ASI CHG)||-27.32|
The Naira at the inter-bank rate remained unchanged at N306.90 against yesterday’s closing price
The Investors and Exporters (I&E) FX window opened at N365.30, traded high at N366.75 and eventually closed at N364.90, representing a 0.27% appreciation against yesterday’s closing price. A total of $292.45 million was transacted through the I&E window today.
Overnight(O/N) rate closed at 27.67%, representing a 0.42% appreciation against Tuesday’s closing position, while Open Buy-Back (OBB) rate also closed at 26.67% representing a 1.67% appreciation against Tuesday’s closing position.
|Note: BPS=> Basis Points|
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