Sell-off in Insurance sector, others drag ASI to close lower. Post 0.02% loss

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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%).

 

FOREIGN EXCHANGE

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.

 

MONEY MARKET

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.

 

Sector Performance

Sector %    Change
NSE30 -0.02
BANKING 0.39
CONGLOMERATE -0.10
CONSUMER GOODS -0.63
INDUSTRIAL 0.40
INSURANCE -1.26
LOTUS ISLAMIC 0.14
OIL/GAS 1.06

 

Top 7 Gainers                                                       Number of Gainers (24)

Company Pclose Open Close Change % Change
FO 20.00 20.00 22.00 2.00 10.00
CCNN 22.60 22.60 24.80 2.20 9.73
REGALINS 0.22 0.22 0.24 0.02 9.09
SOVRENINS 0.22 0.22 0.24 0.02 9.09
PRESTIGE 0.57 0.57 0.62 0.05 8.77
UNIONDAC 0.35 0.35 0.38 0.03 8.57
LINKASSURE 0.59 0.59 0.64 0.05 8.47

 

Top 7 Losers                                                          Number of Losers (13)

Company Pclose Open Close Change % Change
MANSARD 2.28 2.28 2.06 -0.22 -9.65
CAPOIL 0.25 0.25 0.23 -0.02 -8.00
PZ 13.50 13.50 12.50 -1.00 -7.41
HMARKINS 0.32 0.32 0.30 -0.02 -6.25
INTBREW 32.00 32.00 30.00 -2.00 -6.25
FIRSTALUM 0.33 0.33 0.31 -0.02 -6.06
CORNERST 0.21 0.21 0.20 -0.01 -4.76

 

Top 7 Traders By Volume

Company Volume Value(₦) Current Price
REDSTAREX                       60,326,697.00                 298,310,718.70 4.50
ZENITHBANK                       24,169,907.00                 500,252,916.65 20.75
OANDO                       22,105,496.00                 112,610,860.85 5.20
TRANSCORP                         9,886,287.00                   12,219,050.24 1.25
FIDELITYBK                         6,282,595.00                   10,414,466.67 1.65
UBA                         6,053,852.00                   45,924,891.60 7.50
SKYEBANK                         5,466,369.00                     3,651,809.09 0.70

 

Top 7 Traders By Value

Company Volume Value(₦) Current Price
ZENITHBANK                       24,169,907.00                 500,252,916.65 20.75
REDSTAREX                       60,326,697.00                 298,310,718.70 4.50
SEPLAT                            321,843.00                 193,106,817.00 606.70
GUARANTY                         4,069,378.00                 137,727,029.80 34.00
OANDO                       22,105,496.00                 112,610,860.85 5.20
NASCON                         4,117,453.00                   76,404,098.35 18.60
STANBIC                         1,547,499.00                   64,989,538.85 42.00

 

 

 

 

 

 

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