(Greenwich Merchant Bank): The local bourse recorded gains as buying pressure across BUACEMENT (2.63%), FLOURMILL(1.16%) and ZENITHBANK (0.46%) drove the markets bullish performance hence pushing the Market Capitalisation and NGX-ASI up by 0.10%. As a result, Year-to-Date return strengthened to
16.37%.
Notwithstanding, market activities dropped as volume declined by 4.01% to rest at 202.39 million units, as well, value declined by 11.62% to settle at NGN1.636.50 million. FBNH traded the highest volume and value with
36.83 million units and NGN396.18million respectively. Market breadth was negative at 0.50x owing ten (10) gainers and twenty (20) losers.
Performance across sectors was dominated by gains as Insurance sector (0.98%), Consumer Goods sector (0.11%), and Oil and Gas sector (0.11%) recorded gains, while Industrial sector (0.95%) and Banking sector (0.30%) posted losses.
Fixed Income Market
The +12bps movement in the 26-April-2029 instrument resulted in the marginal increase in the Bond market while other instruments majorly traded flat. Specifically, average yield stood at 12.90% from 12.89%.
After a two day bearish run in the NT-bills and OMO market, buyers overshadowed the markets. All instruments listed in both markets declined with the 09-Mar-2023 instrument (-60bps) as the most bought instrument
in the NT-bills market and 02-May-2023 (-78bps) at the OMO market.
Average yield in the NT-bills and OMO market stood at 7.78% and 10.63% from 8.07% and 10.63% in the previous trading day.
System liquidity closed positive, NGN68.72billion from a negative balance of NGN38.03billion due to OMO repayment. However, Open Buy Back and Overnight rate still continued its upward trend to end the day at 14.50% and 15.0% from 14.0% and 14.50%.
At the Importers and Exporters Window, Naira depreciated by NGN0.67/ USD to close at NGN430.67/USD
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.