(Greenwich Merchant Bank): The NGX-ASI and market capitalisation closed bearish as it declined by6bps to 54,189.31 points and 29.51 Trillion respectively. The primary losers are ACCESSCORP 1.63%, INTBREW 4.26%, UACN 1.11% and TRANSCORP 4.03%. Consequently, Year-To-Date, it closed by 5.73%.
However, market sentiment was positive as the volume and value traded rose by 64.40% and 182.94% to close at 254.17million units and N15,577.14 million respectively. Also, GTCO was the highest volume and value traded.
Moreso, market breadth closed negative at 0.53x due the losses reported in Fifteen (15) stocks, while only Eight (8) stocks gained.
On the sectorial performance, the Banking (0.38%), Insurance (0.22%) and Consumer goods (0.16%) lost. But, the Oil & Gas (0.28%) sector gained.
Fixed Income Market
The average system liquidity declined by 62% to N22.07 billion from its opening position of N57.840billion.
However, average interest rate closed against the dictates of market, as the Open Buy Back and Overnight rate declined by 88bps and 94bps to 16.50% and 16.94% from 17.38% and 17.88% respectively.
Trading at the NTBills market was bearish, especially with the sell-offs recorded in the 09-MAR-2023 instrument. Hence, the average yield
increased by 6bps to 4.30%.
However, trading at the Bonds market closed bullish, hence, average yield declined by 2bp to 13.48%.
The Naira exchange rate, at the I&E window, appreciated by N0.17/USD to close at N461.33/USD from N461.50/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
