The NGX-ASI and market capitalisation declined by 0.06% to 54,327.30points and N29,590.62billion respectively. The decline was attributed to decline in the prices of HONEYFLOUR (5.36%), ROYALEX (3.90%), INTENEGINS (9.49%) and CHAMPION (7.22%).
Consequently, Year-To-Date, the NGX-ASI has gained 6.00%. Moreso, market sentiment was mixed with volume traded declining by 21.08%, while the value traded gained by 75.52% to close at 175.66million units and N5,329.02 respectively. In addition, FBNH had the highest volume traded at 14.95million units, as AIRTELAFRI was the highest value traded at N1,291.04million.
The market breadth closed negative at 0.61x as Twenty-one (21) stocks lost compared to Thirteen (13) stocks that gained.
On the sectoral performance, it was largely bullish as Banking +0.60%, Insurance +2.25%, Consumer Goods +0.46% and Oil & Gas +0.07% sectors gained. However, the Industrial Sector (0.62%) closed negative.
Fixed Income Market
The system liquidity declined by 12.7% to close at about N400.58billion from N459.35billion. Hence, the Open Buy Back rate increased 25bps to 10.75% from 10.50%. Also, the Overnight rate increased by 32bps to 11.13%.
At the close of trading activities, the average yield on NTBills closed same as yesterday closing average yield of 1.66%.
At the Bonds market, trading activities was bullish on the 23-MAR-2025 instrument. As a result, average yield increased by 8bps to 13.40%.
At the Naira exchange rate market, the Investors’ and Exporters’ Window (I&EW) rate depreciated by N0.40/USD to N461.50/USD from 461.10/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
