(Greenwich Merchant Bank): The Local Bourse closed bearish as the NGX-ASI and market capitalization declined by 2.47% to 64,046.93 points and N34.87 trillion respectively.
Hence, Year-To-Date, it decreased to 24.97%.
The top losers were FBNH 10.00%, TRANSCORP 10.00%, ETRANZACT 10.00%, CADBURY 9.95%, and FTNCOCOA 9.85%.
Although, trading activity was bullish with total volume and value traded increasing by 37.71% and 34.87% to settle at 1,163 million units and N12.6billion respectively. Also, UBA was the most traded stock by volume and value.
Also, market breadth closed negative at 0.17x as a result of the Sixty– Three (63) Losers and Eleven (11) gainers.
Fixed Income Market
The average system liquidity increased by 2.59% to N849 billion from its opening balance of N828 billion.
At the interbank market, both Open Buy Back and Overnight rate increased by 7bps and 8bps to close at 0.93% and 1.33% respectively.
At the NTBills market, trading activities closed flat as average yield remained at 6.11%.
However, at the Bond market, trading activities closed bullish as average yield declined by 3bps to close at 12.92%.
FX Market:
The Naira exchange rate, at the I&E window appreciated by NGN5.93/USD to close at NGN782.49/USD from NGN788.42/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
