(Greenwich Merchant Bank): The Nigerian equities market closed positive as the NGX-ASI and market capitalization gained 0.02% to settle at 52,626.42 and NGN28,664.19 billion respectively.
The gains in NAHCO (5.41%), WEMABANK (4.84%), JAIZBANK (3.45%) and CHIPLC (7.94%) contributed to the reported NGX-ASI gain. Therefore, on a Year-to-Date basis, it has gained 2.68%.
However, market activities recorded a bearish sentiment as volume and value traded depreciated by 45.20% (110.07million units) and 66.40% (N1,362.32million) respectively. Also, ZENITHBANK had both the highest volume and highest market turnover. Moreso, market breadth was positive at 1.85x with twenty-six (26) gainers
and fourteen (14) decliners.
On a sectoral basis, performance was broadly positive as 3 out of 4 sectors recorded an appreciation, while 1 sector remaining unchanged. The sectors that gained were Banking sector (0.20%), Insurance sector (0.36%) and Industrial sector (0.05%). But, the Consumer Goods sector lost by (0.03%).
Fixed Income Market
At the OMO market, activities were muted across the curve as average yield remained at 2.71%.Activities at the NT-Bills market recorded massive sell-off, especially in 2023 maturities, hence average yield increased by 18bps to close at 3.64% from 3.46%.
Also, activities at the bond market sustained its bearish sentiment, as witnessed in the 2024 and 2037 maturities. Therefore, average yield increased by 44bps to settle at 13.91% from 13.47%.
At the money market, system’s liquidity rose by 4% from its previous balance of N384.576billion to close at N399.79billion. Despite the change in the market liquidity, the Open-buy-back and Overnight rate remained unchanged at 9.50% and 9.83% respectively.
At the I&E window, the Naira depreciated by 25bps to N461.50/$1 compared to N461.25/$1 yesterday.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.