(Greenwich Merchant Bank): Bearish sentiments resurface as the NGX-ASI and market capitalization declined by 0.17% to settle at 66,984.62 points and N36.80 trillion respectively.
Hence, Year-To-Date, it moderated to 30.70%. The top losers were PRESCO 9.54%, ETI 5.31%, JAIZBANK 6.25%, and UPDC 5.11%.
Although, trading activity was bearish as total volume traded and value traded declined by 28.18% and 61.23% to settle at 268 million units and 3.46 billion respectively. Also, FIDELITYBK and SEPLAT was the most traded stock by volume and value respectively.
In addition, market breadth closed negative at 0.44x as a result of the Twenty–Seven (27) losers and Twelve (12) gainers.
Fixed Income Market
The average system liquidity moderated further by 3% to N469 billion from its opening balance of N510 billion.
At the interbank market, both the Open Buy Back and Overnight rate eased by 7bps and 12bps to settle at 0.93% and 1.58% respectively.
Elsewhere, at the NTBills market, trading activities closed bullish as average yields declined by 9bps to close at 6.85%.
Although, the Bond market activities closed flat as average yields remained at 14.63%.
FX Market:
The Naira exchange rate, at the I&E window appreciated by 7.71/USD to close at NGN765.83/USD from NGN773.54/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
