(Greenwich Merchant Bank): The stock market closed on a positive note as the NGX-ASI and market capitalization increased by 1.61% to 61,949.24 points and N33.73 trllion respectively.
The top gainers were FIDELITYBK 10.00%, JAPAULGOLD 10.00%, LINKASSURE 10.00% and MEYER 10.00%.
Hence, the Year-To-Date return rose to 20.87%. Trading activity was mixed as total volume increased by 20.78% and value traded decreased by 12.01% to settle at 1,2058 million units and N14.04 billion respectively.
Also, FCMB and ACCESSCORP was the most traded stock by volume and value.
Also, market breadth closed positive at 4.64x as a result of the Sixty-Five (65) stocks with reported price appreciated, while Fourteen (14) stock prices declined.
Fixed Income Market
The average system liquidity decreased by 48% to N600 billion from its opening balance of N1.149 trillion.
At the interbank market, both Open Buy Back and Overnight rate declined by 21bps and 43bps to close at 1.14% and 1.57% respectively.
At the NTBills market, trading activities closed flat as average yield remained unchanged at 6.20%.
However, at the Bond market, trading activities closed bullish as average yield declined by 9bps to close at 13.07%.
FX Market:
The Naira exchange rate, at the I&E window appreciated by NGN27.75/ USD to close at NGN741.50/USD from NGN769.25/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
