(Greenwich Merchant Bank): The Nigerian equities market advanced as the NGX-ASI and market capitalization rose 0.22% to settle at 70,196.77 points and N38.55 trillion respectively. Hence, Year-To-Date, it moderated to 36.97%.
The top gainers were AIICO 7.14%, FLOURMILL 4.84%, CHAMPION 8.82%, and ROYALEX 8.00%.
Trading activities was mixed as the total volume traded declined 21.90% while value traded rose 50.50% to close at 410 million units and 9.16 billion respectively. Also, FIDELITYBK and AIRTELAFRI were the most traded stock by volume and value respectively.
In addition, market breadth closed positive at 1.08x as a result of the Twenty-Six (26) advancers and Twenty-Four (24) decliners.
Fixed Income Market
The average system liquidity surged significantly to N354 billion from its opening balance of N51 billion.
At the interbank market, both the Open Buy Back and Overnight rate retreated by 392bps and 391bps to close at 16.17% and 16.69% respectively.
At the NTBills market average closed bearish advancing by 361bps to settle at 14.22%.
Similarly, the Bond market closed bullish as the average yields declined marginally by 1bp to settle at 15.63%.
The Naira exchange rate, at the NAFEM window appreciated by NGN17.14/USD to close at NGN776.14/USD from NGN793.28/USD
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.