(Greenwich Merchant Bank): The bullish momentum was sustained as the trading week closed green with the NGX-ASI and market capitalization printing higher at 0.05% for the day to close at 70,854.27 points and N38.92 trillion respectively. Hence, Year-To-Date, it increased to 38.25%.
The top gainers were FCMB 9.38%, VFDGROUP 9.97%, PZ 9.26%, and CONOIL 7.86%. Trading activities was red as the total volume and value traded slumped to 2.19% and 66.87% to close at 556 million units and 5.56billion respectively. Also, JAPAULGOLD and UBA was the most traded stock by volume and value respectively.
In addition, market breadth closed positive at 2.14x as a result of the Thirty (30) gainers and Fourteen (14) decliners.
Fixed Income Market
The average system liquidity surged 108% to N108 billion from its opening balance of N152 billion.
At the interbank market, both the Open Buy Back and Overnight rate declined 29bps and 4bps to close at 16.58% and 17.58% respectively.
At the NTBills market average yields closed marginally bullish declining by 1bp to close at 13.36%.
The Bond market closed flat as the average yields remained unchanged closing at 15.83%.
The Naira exchange rate, at the NAFEM window depreciated by NGN216.61/USD to close at NGN780.14/USD from NGN996.75/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.