(Greenwich Merchant Bank): The NGX-ASI and market capitalization increased by 0.16% to settle at 52,290.75 points and N28.47 trillion respectively. The top gainers were NEM 9.64%, ARDOVA 8.47%, UACN 8.13% and JAIZBANK 5.56%. Similarly, Year-To-Date, the market has gained 2.03%.
The market sentiment was positive as the volume and value traded increased by 89.55% and 39.36% to close at 1.27 billion units and N7.01 billion respectively. Also, TRANSCORP and ACCESSCORP emerged as thehighest traded stocks by volume and value respectively.
The market breadth closed positive at 2.06x due to the gains reported in Thirty-Three (33) stocks, while Sixteen (16) stocks depreciated.
On the sectoral performance, gains were recorded in the Insurance (+2.08%), Oil & Gas (+0.78%), Banking (+0.75%) and Industrial (+0.02%) sectors. However, the Consumer Goods (-0.29%) sector closed with a loss.
Fixed Income Market
The average system liquidity declined by 7.21% to close at N297.75 billion from its opening balance of N320.87 billion.
At the interbank market, the Open Buy Back rate closed flat at 11.00%. While the Overnight rate decreased by 13bps to close at 11.38%.
At the NTBills market, market closed bearish as average yields increased by 17bps to close at 6.84%.
Also, activities at the bond market was bearish as average yields increased by 122bps to close at 14.22%.
The Naira exchange rate, at the I&E window, depreciated by N0.12 to N462.88/USD from N463.00/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.