(Greenwich Merchant Bank): The local equities market recorded a bullish performance today as the NGX -ASI and market capitalization advanced by 5.22% to 55,738.35 points and N30.35 trillion respectively.
The top gainers were NB 10.00%, FCMB 10.00%, STERLNBANK 10.00% and CONOIL 9.91%.
Hence, Year-To-Date, the market is up 8.76%. Today, market sentiment was positive as the total volume and value increased by 133.49% and 106.07% to 1.08 billion units and N15.80 billion. Also, UBA and MTNN emerged as the most traded stock by volume and value.
The market breadth closed positively at 5.82x on the back of gains recorded in Sixty-Four (64) stocks, while Eleven (11) stock prices declined.
On the sectoral performance, the Banking (+8.20%), Consumer Goods (+6.48%), Industrial (+6.08%), Oil & Gas (+4.04%) and Insurance (+2.29%) sectors gained.
Fixed Income Market
The average system liquidity declined by 17.72% to 229billion from its opening balance of N278 billion.
At the interbank market, the Open Buy Back rate and Overnight rate closed flat at 12.75% and 13.25% respectively.
At the NTBills market, average yield closed bullish at 6.85%. Similarly, at the Bond market, trading activity was also bullish as average yield declined marginally by 3bps to settle at 14.27%.
The Naira exchange rate, at the I&E window, appreciated by N0.01 to N464.50/USD from N464.51/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
