(Greenwich Merchant Bank): The Local Bourse closed bearish as the NGX-ASI and market capitalization declined by 0.31%to 65,482.91 points and N35.63 trillion respectively.
Hence, Year-To-Date, it decreased to 27.77%.
The top losers were JAPAULGOLD 18.03%, FTNCOCOA 17.47%, STERLING 8.11% and AFRIPUND 6.15%.
Trading activity was mixed as total volume increased by 1.7% and value traded declined by 32.87% to settle at 509 million units and N4.79billion respectively. Also, JAPAULGOLD and UBA were the most traded stock by volume and value respectively.
Although, market breadth closed negative at 0.42x as a result of the Thirty six (36) losers and Fifteen (15) gainers.
Fixed Income Market
The average system liquidity improved by 70% to N551 billion from its opening balance of N324 billion.
At the interbank market, both Open Buy Back and Overnight rate declined by 993bps and 1020bps to close at 0.90% and 1.30% respectively.
At the NTBills market, trading activities closed bearish as average yield increased by 263bps to close at 6.67%.
Although, at the Bond market trading activities closed flat as average yield closed at 13.13%.
FX Market:
The Naira exchange rate, at the I&E window depreciated by NGN28.52/ USD to close at NGN768.60/USD from NGN740.08/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
