(Greenwich Merchant Bank): The local Bourse closed negative as the NGX-ASI and market capitalization declined by 0.15% to settle at 71,008.78points and N39.05trillion respectively. Hence, Year-To-Date, it decreased to 38.55%.
The top decliners were ZENITHBANK 0.75%, NB 2.50%, TRANSCORP 1.13%, and STANBIC 7.08%.
Trading activities was red as the total volume and value traded moderated by 18.83% and 27.77% to close at 358.45 million units and N4.35 billion respectively.
Also, ACCESSCORP and ZENITHBANK were the most traded stock by volume and value respectively.
In addition, market breadth closed positive at 2.13x as a result of the Thirty– two (32)gainers and Fifteen (15) decliners.
Fixed Income Market
The average system liquidity eased to a net short position of N136 billion from its opening net long position of N79 billion.
At the interbank market, both the Open Buy Back and Overnight rate rose by 227bps and 168bps to close at 23.10% and 23.88% respectively.
The NTBills market closed bullish as average yields declined marginally by 1bp to settle at 12.31%.
Although, the Bond market closed bearish as the average yields expanded 10bps to close at 16.05%.
At the NAFEM window naira appreciated 5% against the Dollar to close at NGN750.14/USD from NGN791.75/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.