(Greenwich Merchant Bank): The NGX-ASI and market capitalization decreased by 0.13% to settle at 55,731.12 points and 30.35trillion respectively. The top laggers are ARDOVA 8.33%, NGXGROUP 4.11%, CONOIL 9.93% and ETERNA 5.56%. Consequently, Year-To-Date, it has gained 8.74%.
The market sentiment was mixed as the volume traded increased by 94.08% and value traded decreased by 17.64% to close at 296.45million units and N2,942.56million respectively. Also, TRANSCORP and GTCO recorded the highest volume and value traded respectively.
Moreso, market breadth closed flat at 0.61x due to the gains reported in Eleven (11) equities, while Eighteen (18) stocks lost.
The sectorial performance was bearish, as the Banking 0.01%, Oil & Gas sectors 2.01% and Insurance 0.49% sectors closed with losses. While the Consumer goods 0.04% and Industrial 0.53% sectors gained.
Fixed Income Market
The average system liquidity declined by 40% to N233.86 billion from its opening position of N390.30billion. Hence, the Overnight rate and Open Buy Back rate fell by 13bps and 14bps to 10.50% b10.86% respectively.
At the close of market activities, trading at the NTBills market was muted as the average yield remained at 3.67%.
At the Bonds market, trading was bullish as average yield decreased by 10bps to 13.27%.
The Naira exchange rate, at the I&E window gained by 25bps to N461.00/USD from N461.25/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
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