(Greenwich Merchant Bank): The NGX-ASI and market capitalization declined by 0.08% to settle at 54,190.28points and 29.52trillion respectively. The top losers are UACN 9.95%, INTBREW 6.67%, ETERNA 9.56% and CHAMPION 6.31%. Consequently, Year-To-Date, it has gained 5.73%.
The market sentiment was bearish as both the volume and value traded declined by 47.56% and 35.32% to close at 292.56million units and N2,380.44million respectively. Also, FIDELITYBK recorded both the highest volume and value traded respectively.
However, market breadth closed negative at 0.76x due to the gains reported in Sixteen (16) equities, while Twenty-One (21) stocks lost.
Although, sectorial performance was positive as the Banking 0.26%, , Consumer goods 0.31% and Oil & Gas sector 0.32% sector lost. While the Insurance sector 0.31% gained. The Industrial 0.00% sector closed flat.
Fixed Income Market
The average system liquidity improved to N43.25 billion from its negative opening balance of N415.27billion.
However, at the interbank market, both Open Buy Back and Overnight rate declined by 113bps and 100bps to close at 17.38% and 17.88% respectively.
At the close of market activities at the NTBills market, average yield closed marginally higher by 2bps to close at 8.06%.
Similarly, at the Bonds market, trading activities was bearish as average yield increased marginally by 3bps to close at 14.19%.
The Naira exchange rate, at the I&E window, depreciated by N2.12 to N463.50/USD from N461.38/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.