(Greenwich Merchant Bank): The Local Bourse closed bullish as the NGX-ASI and market capitalization increased by 2.48% to 64,603.69 points and N35.17 trillion respectively.
The top gainers were DANDCEM 10%, CONOIL 9.97%, MRS 10.00%, JAIZBANK 10.00% and NEIMETH 10.00%.
Consequently, Year-To-Date, it increased to 26.05%.
Trading activity was bullish with total volume and value traded increasing by 49.80% and 59.11% to settle at 1,839 million units and N22.03billion respectively. Also, FBNH was the most traded stock by volume and value.
Also, market breadth closed positive at 3.00x as a result of the Sixty-Three (63) gainers and Twenty-One(21) laggards.
Fixed Income Market
The average system liquidity increased by 0.58% to N822 billion from its opening balance of N818 billion.
At the interbank market, both Open Buy Back and Overnight rate declined by 7bps and 8bps to close at 0.93% and 1.33% respectively.
At the NTBills market, trading activities was bearish as average yield increased by 4bps to close at 6.12%.
However, at the Bond market, trading activities closed bullish as average yield declined by 7bps to close at 13.20%.
FX Market:
The Naira exchange rate, at the I&E window appreciated by NGN32.83/ USD to close at NGN744.07/USD from NGN776.90/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
