(Greenwich Merchant Bank): Equities market was bullish as NGX-ASI and Market capitalization increased by 0.23% to close at 54,427.05points and N29.64trillion respectively.
The increase was attributed to gains from ZENITHBANK 0.80%, DANGCEM 1.89%, UBN 0.76% and FIDELITYBK 1.72%. Consequently, Year-To-Date, the NGX-ASI increased to 6.20%.
The market activities declined with total volume and total value of trade declining by (24.22%) and (76.25%) to 336million units and N5.67billion respectively.
Moreso, UNIVINSURE was most traded stock by volume, while, GTCO was the most traded stock by value. But, market breadth was negative at (0.50x) due to losses from 22 (Twenty-Two) stocks as only eleven (11) stocks gained.
On the sectoral performance, the gainers were Banking 0.31%, Insurance 0.04% and Industrial goods 0.94%. However, the Consumer Goods sector lost by (0.14%).
Fixed Income Market
The system liquidity increased to N650.35billion from N472.332billion. However, interest rate closed same at 10.50% and 10.81% for the Open Buy Back and Over Night rates.
At the end of trading activities at the NTBills market, average yield remained at 1.79% for the 3rd consecutive day due to the weak sentiments recorded across the market.
At the Bonds market, market activities was bullish across the curve, hence average yield declined by 2bps to close at 13.47% from 13.49%
At the I&E window, the Naira exchange rate appreciated marginally by N0.33/USD to close at N461.17/USD from N461.50/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
