Sell-Off Persists as Equity Market drops lower, Post 0.84% Loss.

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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.

 

NSE Trading Floor

 

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%).

 

FOREIGN EXCHANGE

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.

 

MONEY MARKET

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.

 

Sector Performance

Sector %    Change
NSE30 -0.93
BANKING 0.01
CONGLOMERATE -1.15
CONSUMER GOODS -2.31
INDUSTRIAL -3.34
INSURANCE -1.55
LOTUS ISLAMIC -1.69
OIL/GAS -0.72

 

Top 7 Gainers                                                      Number of Gainers (09)

Company Pclose Open Close Change % Change
SKYEBANK 0.61 0.61 0.67 0.06 9.84
UNITYBNK 0.78 0.78 0.85 0.07 8.97
TRANSCORP 1.08 1.08 1.13 0.05 4.63
LASACO 0.30 0.30 0.31 0.01 3.33
WEMABANK 0.60 0.60 0.62 0.02 3.33
FIDELITYBK 1.51 1.51 1.56 0.05 3.31
UBA 7.05 7.05 7.15 0.10 1.42

 

Top 7 Losers                                                         Number of Losers (26)

Company Pclose Open Close Change % Change
WAPCO 23.00 23.00 20.70 -2.30 -10.00
CONOIL 24.30 24.30 21.90 -2.40 -9.88
CCNN 27.85 27.85 25.10 -2.75 -9.87
NPFMCRFBK 1.65 1.65 1.49 -0.16 -9.70
FIRSTALUM 0.33 0.33 0.30 -0.03 -9.09
NEIMETH 0.68 0.68 0.62 -0.06 -8.82
HONYFLOUR 1.39 1.39 1.27 -0.12 -8.63

 

Top 7 Traders By Volume

Company Volume Value(₦) Current Price
GUARANTY                       28,185,308.00                 929,759,440.70 32.95
ZENITHBANK                       25,863,588.00                 514,612,718.15 19.60
SKYEBANK                       18,870,751.00                   11,181,561.38 0.67
UBA                       16,310,894.00                 116,160,477.50 7.15
FBNH                         7,363,085.00                   58,899,151.00 8.00
TRANSCORP                         6,613,517.00                     7,607,626.65 1.13
STERLNBANK                         6,502,511.00                     9,332,196.79 1.45

 

Top 7 Traders By Value

Company Volume Value(₦) Current Price
DANGCEM                         4,925,729.00              1,034,408,070.60 210.00
GUARANTY                       28,185,308.00                 929,759,440.70 32.95
ZENITHBANK                       25,863,588.00                 514,612,718.15 19.60
NESTLE                            331,958.00                 461,385,063.00 1398.00
NB                         3,777,866.00                 317,390,467.20 84.10
UBA                       16,310,894.00                 116,160,477.50 7.15
FBNH                         7,363,085.00                   58,899,151.00 8.00

 

 

 

 

 

 

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