Investors in the Nigerian equity market sustained positive sentiment to three consecutive trading days, as the market performance indicators (All-Share Index and Market Capitalization) grew by 1.25%. The rally was driven by gains in all of the five major sectors, led by the Industrial sectors. Consequently, the market breadth closed positively, recording 29 gainers as against 9 losers.

In summary, the All-Share Index (ASI) increased by 306.16 absolute points, representing a growth of 1.25% to close at 24,758.39 points. Similarly, the overall Market Capitalization size gained N159.55 million, representing an increase of 1.25% to close at N12.90 trillion.

SUNUASSUR emerged as the top gainer while ARBICO emerged as the top loser.

The uptrend was impacted by gains recorded in large and medium capitalized stocks, amongst which are; MOBIL (+9.95%), BUACEMENT (+9.88%), UNILEVER (+9.30%), UACN (+4.83%), ETERNA (+4.30%), FBNH (+3.88%), ZENITHBANK (+3.03%), ACCESS (+2.29%), HONYFLOUR (+3.00%), UBA (+0.75%), and GUARANTY (+0.63%).

FOREIGN EXCHANGE

The Naira at the official window on Thursday closed unchanged at 361.00/$1, against yesterday’s position.

The Investors and Exporters (I&E) FX window opened at N387.25, traded high at N389.75 and eventually closed at N386.50, representing a 0.02% decline as against yesterday’s closing position. A total of $85.61 million was transacted through the I&E window today.

MONEY MARKET

Overnight(O/N) rate closed at 2.00%, representing a 0.17% depreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 1.42%, representing a 0.25% depreciation against yesterday’s position.

SOURCE:https://brandspurng.com/2020/05/21/investors-sustains-positive-sentiment-with-n160-billion-gain/