(Greenwich Merchant Bank): The local bourse started the week positively as the NGX-ASI gained by 0.29% to 54,367.74 points.
The gain was attributed to the increases recorded in NGXGROUP 3.45%, TRANSCORP 3.05%, OANDO 3.65% and INTENEGINS 8.08%. Resultantly, it has gained 6.08% YTD.
Also, activities in the market were mixed as volume traded decreased by 28.50% to 191million units, while the value traded surged by 103.82% to N4.79billion.
GTCO emerged as the highest equity by value and volume traded. Moreso, sentiment across the market was positive as market breadth was 1.06x, as Sixteen (16) stocks gained and Fifteen (15) stocks lost.
The performance across sectors was bullish as gains were recorded in the Insurance 0.33%, Consumer Goods 0.01% and Industrial goods 0.03%. However, the Banking (0.32%) and Oil & Gas (0.02%) sectors lost.
Fixed Income Market
The system liquidity declined by 70.76% to N280.14bn from N958.23bn, thus the Open Buy-Back (OBB) and Over Night (O/N) rates declined
marginally to 10.50% and 10.81% from 10.88% and 11.06%.
At the NTBills market, trading activities was bullish as average yield declined by 5bps to close trading at 1.79%.
At the close of trading activities in the Bonds market, average yield increased by 1bp to 13.68%.
The Naira exchange rate depreciated at the Investors’ and Exporters (I&EW) by N0.67/USD to N462.17/USD from N461.50/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
