(Greenwich Merchant Bank): The Nigerian Equity market recorded a marginal decline as the NGX-ASI and Market Capitalisation dropped by 0.01% to 51,557.41 points and NGN27.80 trillion apiece. Profit taking in large cap stocks such as ACCESSCORP (2.06%), UCAP (1.18%), NGXGROUP (1.12%) and WAPCO (0.76%) drove price lower. Hence, Year-To-Date moves down to 20.70%.
Market activity was mixed as total volume traded increased by 1.29% (115.13 million units) while total value fell by 10.20% (NGN1,778.81 million) at the end of the trading day. GTCO emerged as the most traded stock by volume with 17.86 million units while AIRTELAFRI was the equity with highest value traded at NGN528.22 million. Market breadth was positive at 1.08x with thirteen (13) gainers and twelve (12) laggers.
Performance across sectors was mixed as the Banking sector (0.15%) and Oil and Gas sector (0.09%) closed with gains while the Insurance sector (0.74%) and Industrial sector (0.05%) were negative. Consumer Goods sector (0.00%) remained unchanged.
Fixed Income Market
Due to the delisting of the 14JUL2022 instrument, the average yield in the Nigeria Treasury bills market declined by 33bps to settle at 6.98%. However, other instrument ended the day flat. System liquidity improved slightly to move from a negative balance of NGN220.75billion to close the day at a negative balance of NGN158.78billion. The Open Buy-Back
reversed to 13.83% from 14.00% yesterday, while the Overnight rate continued its 14.00% trend.
Farther on, yields on the OMO market were flat across board with no movement. Therefore, average yield maintained status quo to settle the
day at 6.53%.
Only three instruments listed on the Bond market traded (22JAN2026, 26APR2049 and 27MAR2050), while other instruments closed the same figure as yesterday. This led to 4bps rise in average yield, to close the week at 11.62%.
Naira appreciated at the Investors’ and Exporters’ Window (I&EW) to close at NGN426.13/USD from NGN428.16/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
