(Greenwich Merchant Bank): The NGX-ASI and market capitalization declined by 0.12% to settle at 55,722.90 points and 30.35trillion respectively. The top losers are GTCO 3.08%, NAHCO 2.38%, CHAMS 8.00% and WEMABANK 6.05%, Consequently, Year-To-Date, it has gained 8.73%.
The market sentiment was bearish as the volume and value traded both declined by 35.14% and 70.36% to close at 179.03million units and N2,547.04million respectively. Also, the STERLNBANK and AIRTELAFRI recorded the highest volume and value traded respectively.
However, market breadth closed negative at 0.53x due to the gains reported in Nine (9) equities, while Seventeen (17) stocks lost.
The sectorial performance was negative, as the Insurance 1.91%, Industrial 0.10% and Banking 0.24% all lost. Only the Consumer goods 0.01% sector gained. While the Oil & Gas sectors 0.00% sectors closed flat.
Fixed Income Market
The average system liquidity increased by 12% to N262.90 billion from its opening position of N234.57billion.
However, the Open Buy Back rate increased by 13bps to 10.63% while Overnight rate increased by 19bps to 11.01%.
At the close of market activities, trading at the NTBills market was muted as the average yield closed at 4.17%.
At the Bonds market, trading activities closed at an average yield of 13.28%.
The Naira exchange rate, at the I&E window, appreciated by N0.25k to N461.42/USD from N461.67/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
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