(Greenwich Merchant Bank): The Local Bourse closed bullish as the NGX-ASI and market capitalization gained by 0.51% to settle at 66,490.34 points and N36.39 trillion respectively. Hence, Year-To-Date, it increased to 29.73%.
The top gainers were DANGSUGAR 9.95%, FLOURMILL 10.00%, NASCON 9.96% and NAHCO 9.95%.
TRANSCORP also extended its rally, gaining 9.87% to close at N7.01 per share.
Trading activity was bullish as total volume and value traded gained by 40.45% and 79.14% to settle at 436 million units and N7.01 billion respectively.
Also, FBNH and NESTLE were the most traded stocks by volume and value respectively. Although, market breadth closed positive at 1.14x as a result of the Thirty-Three (33) gainers and Twenty –Nine (29) losers.
Fixed Income Market
The average system liquidity improved to N339 billion from its opening balance of negative N260 billion.
At the interbank market, both Open Buy Back and Overnight rate declined by 2067bps and 2080bps to close at 2.50% and 3.10% respectively.
At the NTBills market, trading activities closed flat as average yield remained at 6.77%.
Although, at the Bond market trading activities closed bullish as average yield declined marginally by 3bps to close at 14.13%.
FX Market:
The Naira exchange rate, at the I&E window depreciated by NGN3.22/USD to close at NGN775.34/USD from NGN759.86/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
