(Greenwich Merchant Bank): The Local Bourse closed bearish as the NGX-ASI and market capitalization declined by 0.08% to settle at 66,439.53 points and N36.36 trillion respectively.
Hence, Year-To-Date, it decreased to 29.64%.
The top losers were TRANSCORP 9.99%, DANGSUAGR 7.68%, NAHCO 4.96% and FTNCOCOA 8.11%.
Trading activity was bullish as total volume and value traded gained by 45.83% and 11.08% to settle at 637 million units and N7.79 billion respectively. Also, TRANSCORP was the most traded stock by volume and value respectively.
Although, market breadth closed negative at 0.85x as a result of the Twenty –Seven (27) losers and Twenty-Three (23) gainers.
Fixed Income Market
The average system liquidity improved by 88% to N640 billion from its opening balance of N339 billion.
At the interbank market, the Open Buy Back increased by 8bps to 2.58% while the Overnight rate decreased by 10bps to close at 3.10%.
At the NTBills market, trading activities closed bullish as average yield declined by 4bpps to settle at 6.73%.
Although, at the Bond market trading activities closed bearish as average yield increased marginally by 9bps to close at 14.22%.
FX Market:
The Naira exchange rate, at the I&E window appreciated by NGN37.16/USD to close at NGN738.18/USD from NGN775.34/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
