UBA, Access Bank, 17 Others drag ASI lower, Shed 0.03%
The Equity Market began the week in a lower position today as it shed 0.03%, extending last week’s negative sentiment to four consecutive trading days. The downturn was aided by the profit taking in UBA, ACCESS and 17 other shares. The Market breadth closed negative, recording 18 gainers against 19 losers.
NSE Trading Floor
In summary, the All Share Index (ASI) was down by 10.95 absolute points, representing an decrease of 0.03%, closing at 34,837.50 points. Similarly, the Market Capitalization was down by N4 billion, representing an decrease of 0.33%, closing at N12.12 trillion.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; FLOURMILL (-9.67%), OANDO (-5.66%), GUINNESS (-5.26%), DANGSUGAR (-4.13%), NB (-2.96%), UBA (-1.25%), ACCESS (-1.05%), and FO (-0.75%).
The Naira at the inter-bank rate closed unchanged at N306.15 against Friday’s closing price.
The Investors and Exporters (I&E) FX window opened at N362.32, traded high at N364.00 and eventually closed at N362.78, representing 0.04% depreciation against Friday’s closing price. A total of $425.98 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 5.42%, representing a 1.42% depreciation against Friday’s closing position, while Open Buy-Back (OBB) rate closed at 4.42% representing a 1.58% depreciation against Friday’s closing position.
We expect the Money Market to trade within existing range in the next session.
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