(Greenwich Merchant Bank): The NGX-ASI and market capitalization declined by 0.02% to settle at 51,944.58points and 28.29trillion respectively. The top loosers are FIDELITYBK 5.47%, AFRIPRUD 4.10%, STERLINGNG 5.77% and LASACO 4.17%. Consequently, Year-To-Date, it has gained 1.35%.
Although, market sentiment was bullish as the volume and value traded increased by 18.72% and 13.20% to close at 302.92million units and N2,023.46million respectively. Also, TRANSCORP and ZENITHBANK emerged as the highest volume and value traded respectively.
However, market breadth closed negative at 0.81x due to the gains reported in Seventeen (17) equities, while Twenty-One (21) stocks lost.
Although, sectorial performance was mixed as the Industrial 0.16%, and Consumer goods 0.05% gained. While the Banking sector (1.08%) and Insurance (0.29%) sector lost. The Oil & Gas sector 0.00% closed flat.
Fixed Income Market
The average system liquidity declined to negative N183.18billion from its opening balance of negative N51.66billion.
However, at the interbank market, the Open Buy Back rate increased by 4bps to 18.67%. While the Overnight rate remained unchanged at 19.00%.
At the close of market activities, average yield closed at 8.07% in the NTBills market.
Also, at the Bonds market, trading activities closed flat with average yield at 14.33%.
The Naira exchange rate, at the I&E window, appreciated by N0.84 to N462.83/USD from N463.67/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
