Buying interest in heavyweight stocks such as MTNN (0.32%), GTCO (6.63%), ZENITHBANK (8.46%), BUAFOODS (0.80%) and NB (0.27%) drove the upward performance in the NGX-ASI and Market Capitalisation which gained by 0.55% to settle at 44,050.44 points and NGN23,993.09 million respectively. Thus, bringing the Year-to-Date to 3.12%.
Market sentiment was also bullish as volume and value traded increased by 55.57% and 140.71% to close at 159 million units and NGN2.80billion.
FIDELITYBK was the equity with the highest volume, while AIRTELAFRI led the value traded chart. Market breadth was negative at 0.91x; owing to twenty-one (21) gainers and twenty-three (23) losers.
Performance in the sectorial performance was mixed as the Banking (4.21%), Insurance (0.79%) and Industrial Goods (0.36%) sector closed up, while the remaining sector closed the day in red. Specifically, the
Consumer Goods and Oil & Gas sector declined by 0.24% and 0.35% respectively.
Fixed Income Market
The fixed income market was quite bullish due in today`s trading session. Yields in the Bond market declined as average yield dipped to close at 14.77%.
Marginal movements were seen across the curve of the Nigerian Treasury Bills and OMO market as yields declined either flat or by 1bp. This led to average yield closing at 11.00% and 10.82%, similar as yesterday`s figure.
System liquidity improved by 207.05%, driving the balance to settle at NGN131.44 billion from a previous figure of NGN42.81 billion. The Open Buy Back rate and Overnight rate closed the day at 16.25% and 16.50% respectively.
Exchange rate at the Investors’ and Exporters’ Window (I&EW) closed at NGN445.00/USD, however depreciated at the XCBN Official Spot rate by NGN0.08/USD to end the trading session at NGN442.19/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.