Sell-Off Persists as Equity Market drops lower, Post 0.84% Loss.
The Equity Market closed lower today, shedding 0.84% to extend downtrend to seven consecutive trading sessions as sell off persists. Market breadth closed negative, recording 9 gainers against 26 losers.
In summary, the All Share Index (ASI) was down by 270.56 absolute points, representing a decrease of 0.84%, closing at 32,022.23 points. Similarly, the Market Capitalization was down by N98.78 billion, representing an decrease of 0.84%, closing at N11.69 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; WAPCO (-10.00%), HONEYFLOUR (-8.63%), FO (-7.41%), NESTLE (-5.48%), ACCESS (-5.00%), DANGFLOUR (-4.76%), DANGSUGAR (-2.11%), FBNH (-1.23%) and ZENITHBANK (-0.51%).
The Naira at the inter-bank rate closed unchanged at N306.25 against yesterday’s closing price.
The Investors and Exporters (I&E) FX window opened at N362.65, traded high at N364.75 and eventually closed at N362.78, representing 0.09% appreciation against yesterday’s closing price. A total of $341.57 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 11.08%, representing a 2.17% appreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 10.33% representing a 2.00% 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 Gainers (09)
Top 7 Losers Number of Losers (26)
Top 7 Traders By Volume
Top 7 Traders By Value