Sell-off in Insurance sector, others drag ASI to close lower. Post 0.02% loss
The Equity Market closed lower today shedding 0.02%, reversing yesterday’s positive sentiment. The downturn was aided by the massive sell-off in Insurance stocks among others. Market breadth closed positive, recording 24 gainers against 13 losers.
In summary, the All Share Index (ASI) was down by 5.88 absolute points, representing a dip of 0.02%, closing at 32,375.12 points. Similarly, the Market Capitalization was down by N2.14 billion, representing a decrease of 0.02%, closing at N11.82 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; MANSARD (-9.65%), PZ (-7.41%), INTBREW (-6.25%), WEMABANK (-3.33%), FBNH (-2.86%), UBA (-2.60%) and FIDELITYBK (-1.20%).
The Naira at the inter-bank rate closed unchanged at N306.30 against yesterday’s closing price.
The Investors and Exporters (I&E) FX window opened at N363.03, traded high at N364.75 and eventually closed at N362.97, representing a 0.09% appreciation against yesterday’s closing price. A total of $491.37 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 5.75%, representing a 4.50% depreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 4.75% representing a 4.75% 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 (24)
Top 7 Losers Number of Losers (13)
Top 7 Traders By Volume
Top 7 Traders By Value