(Greenwich Merchant Bank): The NGX-ASI and market capitalization declined by 0.75% to settle at 52,209.06 points and N28.43 trillion respectively, at the end of today’s trading session.
The top losers were ROYALEX 9.00%, BUACEMENT 8.02%, CAVERTON 4.55% and STANBIC 1.33%. However, Year-To-Date, the market has gained 1.87%.
Today, market sentiment was negative as the total volume and value traded fell by 13.52% and 16.48% to close at 554.31 million units and N5.96 billion respectively. Furthermore, ACCESSCORP emerged as the most traded stock by volume and value.
The market breadth closed positive at 1.63x on the back of gains recorded in Thirty-One (31) stocks, while Nineteen (19) stocks lost.
On the sectoral performance, the Industrial (-3.40%), Banking (-1.22%) and Insurance (-0.22%) sectors closed negatively, while the Consumer Goods (+1.30%) and Oil & Gas (+0.93%) sectors recorded gains.
Fixed Income Market
The average system liquidity increased by 23.19% to close at N721.53 billion from its opening balance of N585.69 billion.
At the interbank market, the Open Buy Back rate closed flat at 11.00% while the Overnight rate both increased marginally by 5bps to close at 11.38%.
At the NTBills market, yields decreased by 44bps to close bullish at 7.09%. Similarly at the Bond market, activities were marginally bullish as average yields declined by 1bp to close at 14.33%.
The Naira exchange rate, at the I&E window, depreciated by N0.77 to N463.02/USD from N462.25/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.