(Greenwich Merchant Bank): The NGX-ASI and market capitalization declined by 1.97% to settle at 53,018.97points and 28.88Etrillion respectively. The top losers are AIRTELAFRI 10.00%, NAHCO 7.14%, FCMB 3.75% and FLOURMILL 4.84%. Consequently, Year-To-Date, it has gained 3.45%.
The market sentiment was bearish as both the volume and value traded declined by 33.50% and 12.78% to close at 197.33million units and N2,674.52million respectively.
Also, UBA and AIRTELAFRI recorded the highest volume and value traded respectively. ŔHowever, market breadth closed negative at 0.67x due to the gains reported in Ten (10) equities, while Fifteen (15) stocks lost.
Although, sectorial performance was positive as the Banking 0.49%, Insurance sector 0.88%, Industrial 0.04% and Oil & Gas sector 0.12% sector gained. While the Consumer goods 0.26% sector lost.
Fixed Income Market
The average system liquidity declined to negative N81.07 billion from its opening balance of negative N61.07billion.
However, at the interbank market, the Open Buy Back remained at 18.63%. While the Overnight rate increased by 25bps to close at 19.00%.
At the close of market activities at the NTBills market was mildly bullish as the average yield closed marginally lower by 6bps to close at 7.99%.
Similarly, at the Bonds market, trading activities was mildly bearish as average yield increased marginally by 1bps to close at 14.22%.
The Naira exchange rate, at the I&E window, depreciated by N0.45 to N463.75/USD from N463.30/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
