(Greenwich Merchant Bank): The local bourse rebounds from yesterdays loss to close bullish, with the NGX- ASI and market capitalization increasing by 0.70% to close at 51,222.34 points and NGN27,899.62 billion respectively. NGXGROUP (5.39%), AIRTELAFRI (3.33%), ACCESSCORP (2.27%), and OANDO (2.06%) contributed to the gains recorded in the market today. Consequently, Year-To-Date stands at 0.06%.
Activities noted in the market was bullish as volume and value of trades increased by 44.12% (190.52 million units) and 337.03% (NGN7,322.10 million) respectively. FBNH dominated the market as the highest traded volume (41.89 million units) and BUACEMENT with highest traded value (NGN2.89 billion) at the end of the day.
Sentiment in the market was although negative as the market breadth stood at 0.62x with sixteen (16) gainers and eighteen (18) losers.
Performance across the sectors was mainly bullish as the Banking sector (0.23%), Insurance sector (0.17%) and Industrial (0.19%) sectors led gains. While the Consumer goods sectors (0.68%) and Oil & Gas sector (0.01%) closed negative owning to falling Oil Prices.
Fixed Income Market
During today’s trading session, mixed sentiment dominated the bond market as investors demonstrated buying interest at the short end of the market, while selling off instrument at the long end of the yield curve. As such, average bond yield stood at 13.02%, declining by 3bps.
For the third consecutive trading session, yields traded flat across the curve in the OMO market. Specifically, average yield remained at 3.36% at the end of today`s trading session.
The Nigerian treasury bills market continued its downward trend as interest increased. This led to a 19bps decline in average yield to settle at 3.31% from 3.50%.
System liquidity trended lower by 4.32% to close the day at NGN1,346.27billion to NGN1,407.10billion, consequently, both the Open-Buy
Back and Overnight rate increased to settle at 13.00% and 14.50%.
Naira depreciated by NGN0.17/USD at the I&E Window from NGN461.50/USD to NGN461.67/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
