(Greenwich Merchant Bank): Negative Investors sentiment continued at the Nigerian Equities Market with a decline of 2.26% as the NGX-ASI and Market Capitalisation settled at 49,350.71 points and NGN26,618.19 billions respectively.
Declines in major tickers such as DANGCEM (9.06%), STANBIC (6.45%) and MTNN (4.29%) contributed to the fall in the market. Hence, the Year-to-Date dropped to 15.53%.
Market sentiments was bearish as volume and value traded declined by 32.14% and 24.50% to close at 140.61 million units and NGN1,600.15 million respectively. JAPAULGOLD emerged as the highest volume traded with 23.18 million units, whereas SEPLAT took the spot of the highest traded value with NGN441,752.23 million. Market breadth was negative at 0.63x owing to ten (10) gainers and sixteen (16) losers.
The Industrial sector (4.83%), Consumer Goods sector (0.29%), and Oil & Gas sector (0.27%) declined, while the Banking sector (0.60%) and Insurance sector (0.24%) recorded gains.
Fixed Income Market
Quiet sentiment took over the mood in the fixed income market as yields across the market closed same as yesterday`s figure. Specifically, only one instrument traded in the Bond market with average yield maintaining
status quo at 12.69%.
Replicating the same movement in the Bond market, the NT-bills and OMO market ended the day at an average of 7.48% and 11.12%, same as the previous day due to the little or no activities in both markets.
System liquidity dipped further to at a negative balance of NGN81.86billion from a negative balance of NGN78.94 billion. Consequently, open-buyback moved upward to 14.83% from 14.75% while the overnight rate stood steady at 15.00%.
The Naira in the I&E window declined by NGN1.00/USD, appreciating to NGN430.00/USD from NGN431.00/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.