(Greenwich Merchant Bank): The Local Bourse closed bearish as the NGX-ASI and market capitalization decreased by 0.17% to 64,928.98 points and N35.35 trillion respectively.
Hence, Year-To-Date, it decreased to 26.69%.
The top losers were DANGSUGAR 4.35%, ETERNA 9.86%, UACN 4.63% and UNILEVER 7.05%.
Trading activity was bullish as total volume and value traded gained by 8.27% and 10.48% to settle at 280.47 million units and N4.64 billion respectively. Also, TRANSCORP and MTNN were the most traded stock by volume and value respectively.
Although, market breadth closed negative at 0.57x as a result of the
Seventeen (17) gainers and Thirty (30) losers.
Fixed Income Market
The average system liquidity declined by 35% to N193 billion from its opening balance of N298 billion.
At the interbank market, both Open Buy Back and Overnight rate increased by 230bps and 260bps to close at 7.30% and 8.40% respectively.
At the NTBills market, trading activities closed bearish as average yield increased by9bps to close at 6.94%.
Similarly, at the Bond market trading activities closed bearish as average yield increased by 5bps to close at 13.76%.
FX Market:
The Naira exchange rate, at the I&E window depreciated by NGN30.36/USD to close at NGN774.77/USD from NGN744.41/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
