The Nigerian equity market on Thursday gained 1.88% extending uptrend to two trading sessions. Similarly, market breadth closed positive recording 37 gainers against 14 losers.
In summary, the All Share Index (ASI) gained 612.54 absolute points, representing a growth of 1.88% to close at 33,269.84 points. Similarly, the Market Capitalization gained N211.82 billion, representing a growth of 1.88% to close at N11.50 trillion.
The Upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; UBA (+5.22%),
STANBIC (+4.98%),
ACCESS (+4.95%),
FCMB(+4.92%),
FBNH (+4.91%),
OANDO (+4.87%),
WAPCO (+2.88%),
NB (+2.71%),
DANGCEM(+2.49%),
ZENITH (+1.55%),
7UP (+1.11%),
SEPLAT (+1.09%),
MOBIL (+0.81%) and FO (+0.30%) .

Also, find in the ‘link’ Corporate Benefits & Relevant Dates reported thus far in 2017.



Foreign Exchange

The Naira at the inter-bank market remained flat at N305.90 against the US Dollar. The Investors and Exporters (I&E) FX window opened at N367.19 and closed at N368.00.

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 4.00% and 4.58% respectively, representing a downtrend of 55.56% and 50.91% from Wednesday’s closing position of 9.00%  and 9.33%.

We expect money market to trade within the existing range in the next session.

SOURCE: https://brandspurng.com/equity-market-gains-1-88-extending-yesterdays-uptrend/

Hmmmm, UBA.