(Greenwich Merchant Bank): The Local Bourse closed bullish as the NGX-ASI and market capitalization gained by 1.11% to settle at 68,279.14 points and N37.36 trillion respectively. Hence, Year-To-Date, it increased to 33.22%.
The top gainers were DANGSUGAR 10.00%, NASCON 9.98%, OANDO 9.91% and PZ 9.14%.
Trading activity was bullish as total volume and value traded gained by 67.88% and 88.56% to settle at 845 million units and N13.04 billion respectively. Also, FIDELITYBK and ZENITHBANK were the most traded stocks by volume and value respectively.
Although, market breadth closed positive at 1.48x as a result of the Thirty-Four(34) gainers and Twenty-Three (23) losers.
Fixed Income Market
The average system liquidity eased by 17% to N222 billion from its opening balance of N268 billion.
At the interbank market, both the Open Buy Back and Overnight rate declined by 9bps and 17bps apiece to settle at 1.58% and 2.25% respectively.
At the NTBills market, trading activities closed flat as average yield remained at 7.23%.
Similarly, at the Bond market trading activities closed flat as average yield maintained its position, closing at 14.22%.
FX Market:
The Naira exchange rate, at the I&E window depreciated by NGN7.49/USD to close at NGN747.87/USD from NGN740.38/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
