(Greenwich Merchant Bank): The Nigerian Equity market experienced growth as NGX-ASI and market capitalisation increased by 0.01% and 0.04% to settle at 51,563.73 points and NGN27,806.65 billion respectively. The rise in share prices of NAHCO (9.41%), JAIZBANK (3.70%), GTCO (0.49%) and ZENITHBANK (0.46%) was responsible for the increase recorded in the market. Consequently, Year-To-Date stands at 20.71%.
Market sentiment was also positive with volume and value traded growing by 5.94% and 22.07% to close at 143.29 million units and NGN1756.14 million apiece. JAIZBANK had the highest volume traded at 42.10 million units while AIRTELAFRI ended the day as the highest value traded at NGN1,756.14 million.
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Market breadth closed positive at 1.4x owing to fourteen (14) gainers and ten (10) losers. Sectoral performance was largely bullish as Banking sector (0.50%), Consumer Goods sector (0.36%) and Industrial sector (0.002%) all witnessed growth while Insurance sector (0.11%) recorded a decline. The Oil and Gas sector (0.00%) however was unchanged.
Fixed Income Market
Yields continued its upward movement in the Nigerian Treasury Bills market. Although, only the 14JUL2022 closed bearish, average yield increased by 7bps to close the day at 7.31%. System liquidity declined further closing long at (NGN220.35billion) from (NGN207.34billion). Open Buy-back rate improved to 14.00% from 13.83%, while the Overnight rate continued its 14.00% trend.
However, calm activities surfaced in the OMO market with average yield retained its previous day figure of 6.53%.
The 22JAN2026 instrument drove the average performance in the Bond market. Consequently, average yield logged at 11.58%, 3bps lower Day on Day. Only three instruments traded out of fifteen instruments listed on the
market.
Pressure slightly built up in the Investors’ and Exporters’ Window (I&EW), with the Naira trading at NGN428.16/USD, NGN0.41/USD weaker than NGN427.75/USD yesterday.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
