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Nigerian Stock Exchange Resumes On Downward Trend, Down By 0.12% / Equity Market Continues Bull-run As ASI Gains 0.65%. / ASI Sheds 1.10%, Extending Bearish Run To Three Trading Sessions. (2) (3) (4)
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Equity Market Continues Downward Trend As ASI Sheds 1.64% by Nobody: 12:24pm On Jun 23, 2017 |
The Nigerian equity market on Thursday, shed 1.64%, extending yesterdays downward position. Similarly, market breadth closed negative recording 13 gainers against 45 losers. In summary, the All Share Index (ASI) shed 549.45 absolute points, representing a decline of 1.64% to close at 32,928.44 points. Similarly, the Market Capitalization shed N190.00 billion, representing a decline of 1.64% to close at N11.39 trillion. The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; ETI (-8.47%) JBERGER (-4.99%) OKOMU (-4.99%) OANDO (-4.95%) NB (-4.80%) STANBIC (-4.38%) ZENITH (-3.63%) GTB (-1.86%) WAPCO (-1.63%) MOBIL (-1.16%) FLOURMILLS (-1.02%) 7UP (-0.01%). Foreign Exchange The Naira at the inter-bank market remained flat at N305.85 against the US Dollar. The Investors and Exporters (I&E) FX window opened at N366.91 and closed at N363.00, representing an appreciation of 0.78%. We expect the FX market to trade within the current range in the next session. Money Market OBB and Overnight rates closed at an average of 8.50% and 9.08% respectively, recording a dip of 9.50% and 9.92% respectively and representing a downtrend from Wednesday’s closing position of 19.00% and 18.00%. We expect money market to continue with existing volatility in the next session. The CBN conducted a further OMO auction today, to mop up excess liquidity, selling a total of 377.9 million of 168-day and 22.3 billion of 357-day at a stop rate of 18.0% and 18.6% respectively. Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017. SOURCE: https://brandspurng.com/equity-market-continues-downward-trend-as-asi-sheds-1-64/ |
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