(Greenwich Merchant Bank): The local equities market closed red as the NGX-ASI and market capitalization retracted by 0.49% to settle at 71,457.92points and N39.1trillion respectively. Hence, Year-To-Date, it increased to 39.43%.
The top losers were ACCESSCORP 5.21%, FBNH 9.86%, UNITYBNK 3.90%, and JAIZBANK 5.63%.
Trading activities was negative as the total volume and value traded declined by 36.73% and 37.62% respectively to close at 436.56 million units and N7548.39 billion respectively. Also, UNIVINSURE and NB were the most traded stock by volume and value respectively.
In addition, market breadth closed negative at 0.72x as a result of the Twenty-nine (29) decliners and Twenty-one (21)gainers.
Fixed Income Market
The average system liquidity decreased significantly to a net short position of N246 million from its opening balance of N644 billion.
At the interbank market, both the Open Buy Back and Overnight rate increased by 3bps and 4bps to close at 20.20% and 21.00% respectively.
The NTBills market closed flat to settle at 10.01%.
The Bond market closed bullish as the average yields declined by 7bps to settle at 15.00%.
FX Market
The Naira exchange rate, at the NAFEM window appreciated by NGN108.15/USD to close at NGN843.07/USD from NGN951.22/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
