The Equity Market today gained 1.57%, reversing Monday’s downtrend. The upturn was due to gains in Dangote Cement and 10 others. Market breadth closed negative, recording 11 gainers against 25 losers. 

In summary, the All Share Index (ASI) grew by 542.68 absolute points, representing an increase of 1.57%, closing at 35,206.16 points. Similarly, the Market Capitalization grew by N198.12 billion, representing an increase of 1.57%, closing at N12.85 trillion.

The Upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; DANGCEM (+6.98%), DANGFLOUR (+6.49%), OANDO (+5.26%), GUARANTY (+2.30%), UCAP (+1.42%), HONEYFLOUR (+0.68%) and FBNH (+0.52%).

FOREIGN EXCHANGE

The Naira at the inter-bank rate closed unchanged at N306.10 against Monday’s closing price.

The Investors and Exporters (I&E) FX window opened at N362.12, traded high at N364.00 and eventually closed at N362.60 representing 0.03% depreciation against Monday’s closing price. A total of $167.78 million was transacted through the I&E window today.

We expect the FX Market to trade within an existing range in the next session.

MONEY MARKET

Overnight (O/N) rate closed at 7.75%, representing a 1.83% depreciation against Monday’sclosing position, while Open Buy-Back (OBB) rate closed at 6.83% representing a 2.00% depreciation against Monday’s closing position.

We expect the Money Market to trade within an existing range in the next session.



SOURCE: https://brandspurng.com/dangote-cement-10-others-push-equity-market-upwards-posts-1-57-loss/

Politically rich man.
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hollajay:
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see as thread dry

Themaths:
Run from it or get scammed

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Ugosample:
see as thread dry

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4601CE:
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