(Greenwich Merchant Bank): The NGX-ASI and market capitalization declined by 1.16% to settle at 53,124.63points and 28.94trillion respectively. The top decliners are DANGCEM 4.17%, UCAP 1.69%, DANGSUGAR 0.60% and UACN 5.76%. Consequently, Year-To-Date, it has gained 3.66%.
The market sentiment was mixed as the volume traded rose by 101.08% and value traded dipped by 52.72% to close at 202.85million units and N2,052.96million respectively. Also, TRANSCORP and GTCO recorded the highest volume and value traded respectively.
However, market breadth closed positive at 1.89x due to the gains reported in Seventeen (17) equities, while Nine (9) stocks lost.
Although, sectorial performance was positive as the Banking 0.27%, Consumer goods 1.50%, and Insurance 0.46% gained. The Industrial 2.18% sector lost. While the Oil & Gas sector 0.00% closed flat.
Fixed Income Market
The average system liquidity dipped by 5% to N482.43 billion from its opening balance of N458.62billion.
However, at the interbank rate the Open Buy Back and Overnight rate declined by 38bps and 38bps to close at 16.75% and 18.00% respectively.
At the close of market activities, average NTBills yield closed at 5.94%.
Similarly, at the Bonds market, trading activities was mildly bearish as it closed higher by 9bps at an average yield of 13.97%.
The Naira exchange rate, at the I&E window, fell by N0.25 to N461.75/USD from N461.50/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.