(Greenwich Merchant Bank): The local bourse closed on a positive note with the NGX-ASI and market capitalization increasing by 0.71% to close at 47,660.04 points and NGN25,959.14 billion respectively. WEMABANK (10.00%), UACN (9.95%), UCAP (8.10%), MTNN (3.80%), ACCESSCORP (3.66%) contributed to the gains
recorded in the market today. Consequently, Year-To-Date stands at 11.57%.
Activities noted in the market was bearish as volume and value of trades decreased by 11.51% (107.02 million units) and 19.97% (NGN1,318.62
million) respectively. FBNH dominated the market as the highest traded volume (1,252.8 million units) and ZENITHBANK with highest traded value (NGN203.00 million) at the end of the day. Sentiment in the market was positive as the market breadth stood at 2.44x with twenty-two (22) gainers and nine (9) losers.
Performance across the sectors were bearish as the Insurance sector (0.59%), Consumer goods sectors (0.79%) closed negative. The Banking sector (1.79%) was the only Sector with a Positive close. While the Industrial sector (0.00%)
and the Oil and Gas sector (0.00%) closed flat.
Fixed Income Market
During today’s trading session, the bond market was permeated by marginal bullish sentiment as investors tilted to bond instruments with short tenors. As such, average bond yield reduced by 3bps from 14.65% to 14.61%.
The OMO market was muted as the average yield remain unchanged from 10.78%. Activities in the NT-bills market was equally flat with average yield staying at 10.95%.
Both the Open-Buy Back and Overnight rate closed the day at 10.25% from 14.75% while the Overnight rate closed down at 10.88%, meanwhile system liquidity trended higher to (NGN163.58 billion) from (NGN94.12billion).
Naira closed flat in the I&E Window maintaining it previous day figure NGN445.30/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.