(Greenwich Merchant Bank): The Local Bourse closed bearish as the NGX-ASI and market capitalization decreased by 0.04% to 65,309.65points and N35.54 trillion respectively.
Hence, Year-To-Date, it decreased to 27.43%.
The top losers were GEREGU 6.38%, ETERNA 5.08%, CADBURY 6.16% and NNFM 9.89%.
Trading activity was mixed as total volume declined by 4.94% while value traded gained by 14.91% to settle at 317.81 million units and N4.47 billion respectively. Also, ACCESSCORP was the most traded stock by volume and value respectively.
Although, market breadth closed positive at 1.04x as a result of the Twenty-Five(25) gainers and Twenty-Four(24) losers.
Fixed Income Market
The average system liquidity declined by 23% to N360 billion from its opening balance of N294 billion.
At the interbank market, both Open Buy Back and Overnight rate decreased by 326bps and 416bps to close at 2.64% and 4.16% respectively.
At the NTBills market, trading activities closed bearish as average yield increased by 30bps to close at 6.88%.
Similarly, at the Bond market trading activities closed bearish as average yield increased by 14bps to close at 13.61%.
FX Market:
The Naira exchange rate, at the I&E window appreciated by NGN17.27/ USD to close at NGN757.51/USD from NGN774.78/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
