(Greenwich Merchant Bank): The local stock market started off the week on a bullish note as the NGX-ASI and market capitalization advanced by 3.99% to 58,163.59 points and N31.67 trillion respectively at the end of today’s trading session.
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The top gainers were FCMB 10.00%, NACON 9.30%. LASACO 9.09% and ETI 9.92%.
Furthermore Year-To-Date return rose to 13.49%.
Trading activity was positive today as total volume and value traded rose by 106.44% and 215.93% to 1.19 billion units and N19.23 billion respectively.
Also, UBA and GTCO emerged as both the most traded stock by volume and value, respectively.
214.94m units of UBA shares valued at N2.33bn was traded in 608 deals, while 208.06m units of GTCO shares valued at N6.24bn was traded in 613 deals.
The market breadth closed significantly positive at 5.08x as a result of Sixty-One (61) stocks that appreciated while Twelve (12) stocks declined.
Fixed Income Market
The average system liquidity declined by 29.57% to N538 billion from its opening balance of N765 billion (last updated on Friday, 9th 2023).
At the interbank market, both the Open Buy Back and Over right rates increased by 20bps apiece to close at 11.90% and 12.30% respectively.
At the NTBills market, trading activity was flat as average yield closed unchanged at 5.93%.
Similarly, at the Bond market, activity closed flat at an average yield of 14.10%.
The Naira exchange rate, at the E&E window appreciated by N0.83/USD to close at N471.67/USD from N472.50/USD.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
