(Greenwich Merchant Bank): The local bourse closed the week on a positive note with the NGX-ASI and market capitalization increasing by 0.09% to close at 49,695.12 points and NGN26,804.65 billion respectively. FLOURMILL (3.41%), NEM (7.62%), WAPCO (1.84%), ACCESSCORP (2.31%) and FIDELITYBK (1.39%) contributed to the gains recorded in the market today. Consequently, Year-To-Date stands at 16.34%.
Activities noted in the market was bullish as volume and value of trades increased by 97.00% (318.92 million units) and 14.57% (NGN1.863.25 million) respectively.
STERLNBANK dominated the market as the highest traded volume (173.83 million units) and UBA with highest traded value (NGN400.61 million).
Sentiment in the market was negative as the market breadth stood at 0.62x with ten (10) gainers and sixteen (16) losers.
Performance across the sectors were bullish as the Banking sector (0.87%), Insurance sector (0.44%), Consumer goods sectors (0.06%) and Industrial sector (0.15%) ended the week in positive territory. While the Oil and Gas
sector (0.16%) posted a negative return.
Fixed Income Market
The 53bps yield increase in the 27-Mar-2035 instrument determined the overall average performance in the Bond market. With all other instruments in the market closing calm, average yield rose to 13.20% from 13.16%, rising by 4bps.
Mood in the NT-bills and OMO market remained quiet as little or no movement were seen across the curve. Specifically, yields traded flat across al the benchmarked instrument in both markets. For the second day in a row, average yield stood steady at 7.81% and 11.14%; same figure as yesterday in the NT-bills and OMO market
The Open-Buy Back and Overnight rate once again, moving from 9.67% and 10.17% to close the week at 8.50% and 9.00% due to the 72.87% rise in the system liquidity to NGN101.68billion from NGN58.82billion.
Exchange rate at the Investors and Exporters Window remained at NGN436.33/ USD, same as yesterday`s figure
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.