(Greenwich Merchant Bank): The equities market began the week on a positive footing as the NGX-ASI and market capitalization gained 0.079% to 59,014.85 points and N32.13 trillion respectively at the end of today’s trading session.
The top gainers were TANTALIZER 10.00%, UNIVINSURE 10.00%, UNITYBNK 9.80%o and MBENEFIT 8.82%.
Furthermore, Year-To-Date return, it im proved to 15.15%.
Trading activity increased today as total volume and value traded rose by 44.99% and 73.53% to 893 million units and N11.15 billion, respectively.
Also, JAIZBANK and GTCO emerged as both the most traded stock by volume and value, respectively.
The market breadth closed positively at 1.80x as a resuit of Forty-Five (45) stocks that appreciated while Twenty-Five (25) stocks declined.
Fixed Income Market
The average system liquidity increased to N711billion from its opening balance of N194 billion.
At the interbank market, the Open Buy Back and Over night rates declined to close at 11.60% and 12.10% respectively.
At the NTBills market, trading activities closed bearish as average yield increased to 6.46% from 6.14%.
However, average yield at the Bond market closed at the same rate of 14.13%.
FX Market
The Naira exchange rate, at the 1&E window, depreciated by 16% to close at 770.38/USD from 663.04/USD. This can be largely attributed to the recent liberalization of the Fx market framework which was announced last week.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
