(Greenwich Merchant Bank): The NGX-ASI closed bearish with a loss of 0.31% to close at 52,348.82 points and N28.51trillion respectively.
The losses recorded in UBA (4.19%), ACCESSCORP (3.76%), ZENITHBANK (3.72%) and WAPCO (3.56%) were responsible for the loss. Thus, YTD, market has returned 2.14%.
However, market activities increased by 5.10% and 43.12% for total volume of trade and Value of trade to close trading at 206.40million units and N22.93 million respectively.
During trading, UBA was the most traded stock by volume with 22.93 million units, while GTCO was the most traded stock by value with a turnover of N482.50million.
Market sentiment was bearish, with a market breadth of 0.90x, emerging from twenty (20) gainers and twenty-two (22) laggers.
The sectoral performance was dominated by losses from Industrial sector (0.18%), Banking sector (3.39%), and Consumer Goods sector (0.08%). But, Oil & Gas sector (0.09%) and Insurance sector (0.39%) posted gains.
Fixed Income Market
Trading activities at the NTBill market today was bearish, thus average yield increased by 7bps to 3.38%.
In the same vein, trading at the Bonds market was bearish across the short and long end of the curve. Hence, average yield increased by 4pbs to 13.26% from 13.22%.
However, trading activities in the OMO space was calm as trading muted across all tenures. Thus, the average yield sustained its closing figure of 3.35%.
At the Money market, the System liquidity dipped by 40.5% to N258.05bn. But, OBB and O/N rates closed, same as the last trading day, at 9.67% and 10.00% respectively.
At the currency market, the Investors & Exporters exchange rate, appreciated by 40bps to close at N461.50/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.