(Greenwich Merchant Bank): The local bourse continues in its rise as trading closes in the red, with the NGX-ASI and Market Cap experiencing a gain of 1.89% each; placing them at 51,251.06 points and NGN2.79 trillion respectively.
These gains are attributable to rise experienced in PRESCO (10.00%), AIRTELAFRI (9.88%), FCMB (8.76%) and GEREGU (6.66%). As a result, Year-to-Date now stands at 19.98%.
Market activity was mixed as volume traded increased by 80.64% and value traded reduced by 6.43%, having traded 885.99 million units, valued at NGN7.24 billion. SOVRENINS was the highest traded by volume with PRESCO being the highest value traded, closing the day with 523.92 million units traded at NGN1.611 billion.
Market sentiment was negative, with a market breadth of 0.94x resulting to sixteen (16) laggers and seventeen (17) gainers.
Performance across sectors was mixed as gains were seen in the Consumer Goods Sector (0.09%), Insurance Sector (0.40%). Both the Oil & Gas Sector (0.41%) and Banking Sector (2.86%) closed red. The Industrial Sector (0.00%) closed flat.
Fixed Income Market
The NT-Bills market was majorly calm, as no single instruments traded. The yield curve was largely flattish, with the average yield maintaining it’s previous day close figure of 5.29%.
Momentum in the Bond market was largely quiet. Thus the average yield settled at yesterday`s close of 13.31%.
Activities in the OMO space was calm as trading muted across all tenures. Thus, the average yield stood at 3.367%. System liquidity balance decreased to NGN584.66 billion from NGN701.377billion. Interbank rates went up to 11.75% and 11.33% from 9.50% and 9.83% each for Open Buy Back and Over Night rates.
At the Import &Export window, the naira appreciated slightly to close at NGN461.50 from NGN461.67/USD
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
