Profit taking in Dangcem and 26 others drags down Equity market by 0.44%
The Equity Market closed lower today, shedding 0.58%, reversing yesterday’s positive sentiment. The downturn was due to profit taking in Dangote cement, and 26 others. The Market breadth closed negative, recording 18 gainers against 27 losers.
In summary, the All Share Index (ASI) was down by 157.27 absolute points, representing an decrease of 0.44%, closing at 35,358.94 points. Similarly, the Market Capitalization was down by N57.42 billion, representing an decrease of 0.44%, closing at N12.91 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; FBNH (-7.22%), FLOURMILL (-7.06%), WAPCO (-5.56%), UBA (-3.59%), FO (-2.69%), HONEYFLOUR (-1.84%), ZENITHBANK (-0.90%), and DANGCEM (-0.43%).
The Naira at the inter-bank rate closed unchanged at N306.15 against yesterday’s closing price.
The Investors and Exporters (I&E) FX window opened at N362.53, traded high at N364.00 and eventually closed at N363.06, representing 0.19% depreciation against yesterday’s closing price. A total of $170.37 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 11.75%, representing a 0.92% appreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 10.58% representing a 0.67% 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 Gainer (18)
Top 7 Losers Number of Losers (27)
Top 7 Traders By Volume
Top 7 Traders By Value