(Greenwich Merchant Bank): The Local Bourse closed bullish as the NGX-ASI and market capitalization gained by 0.90% to 66,151.38 points and N36.21 trillion respectively. Hence, Year-To-Date, it increased to 29.07%.
The top gainers were DANGSUGAR 10.00%, NASCON 9.94%, NAHCO 9.84% and GLAXOSMITH 9.91%.
Trading activity was bearish as total volume and value traded declined by 12.61% and 7.52% to settle at 311 million units and N3.91 billionrespectively. Also, TRANSCORP and DANGSUGAR were the most traded stocks by volume and value respectively.
Although, market breadth closed positive at 1.39x as a result of the Thirty-Two (32) gainers and Twenty –Three(23) losers.
Fixed Income Market
The average system liquidity declined by 7% to N260 billion from its opening balance of N280 billion.
At the interbank market, both Open Buy Back and Overnight rate decreased by 108bps and 130bps to close at 23.17% and 23.90% respectively.
At the NTBills market, trading activities closed bullish as average yield declined by 95bps to settle at 6.77%.
Similarly, at the Bond market trading activities closed bearish as average yield increased marginally by 1bps to close at 14.16%.
FX Market:
The Naira exchange rate, at the I&E window appreciated by NGN6.30/USD to close at NGN772.12/USD from NGN778.42/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
