(Greenwich Merchant Bank): The domestic bourse continued its surge as gains in the share price of FBNH (1.85%), ZENITHBANK (1.58%), FIDELITYBK (0.96%) and FCMB (0.86%) drove the NGX-ASI and market capitalisation to a positive return of 0.04% to settle at 48,899.08 points and NGN26,634.01 billion respectively. Consequently, the Year-to-Date is up at down to 14.47%.
Also Market sentiments surged as the total volume traded and total value traded increased by 130.43% (230.11 million units) and 112.63% (NGN2,392.53 million) respectively. ACCESSCORP dominated market activities as the equity with the highest volume traded and highest market turnover for the day. Market breadth was bearish at 0.82x resulting from to nine (9) gainers and eleven (11) losers.
Sectoral performance increased as the Banking sector (0.47%) andvIndustrial sector (0.04%) gained. The insurance sector (0.61%) closed red. Both the Oil & Gas sector (0.00%) and Consumer goods sector (0.00%) closed flat.
Fixed Income Market
Yields in the Bond market remained muted as average yield stood the same as the previous trading session at 14.39%. Movement was only recorded in the short end of the curve in the 14-March-25 instrument.
Investor’s interest was down in the Nigeria Treasury bills as movement was a bit quiet. This led to average yield closing at 8.45%, 1bp lower than the previous figure.
At the OMO market, there was marginal movement across all instrument, causing average yield to move by 1bp lower, closing at 10.74%.
System liquidity was low at NGN91.43 billion compared to its previous figure of NGN187.74 billion, representing a 51.30% decline. The Open Buy Back and Overnight rate rose further to 15.75% and 16.25% from 13.63% and 14.13%.
The Naira appreciated at the Investors’ and Exporters’ Window (I&EW) by NGN0.50/USD to close at NGN446.00/USD from NGN446.50/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.