(Greenwich Merchant Bank): The NGX-ASI and market capitalization increased by 0.95% to settle at 52,097.62 points and 28.36 trillion respectively. The top gainers are TOTAL 9.96%, IKEJAHOTEL 8.55%, HONYFLOUR 9.80% and JAPAULGOLD 9.09%. Consequently, Year-To-Date, it has gained 1.65%.
The market sentiment was bullish as the volume traded and value traded increased by 209.85% and 120.04% to close at 6,476.21million units and N19,471.45million respectively. Also, TRANSCORP emerged as the highest volume and value traded.
The market breadth closed positive at 5.57x due to the gains reported in Thirty-Nine (39) stocks, while Seven (7) stocks lost.
On the sectorial performance, gains were recorded in the Consumer Goods (0.61%), Insurance (0.93%) and Industrial (0.16%) sectors. But, the Banking (0.08%) and Oil & Gas (0.04%) sectors declined.
Fixed Income Market
The average system liquidity improved to close at positive N525.78billion from its opening balance of negative N407.88.
At the interbank market, the Open Buy Back rate and Overnight rate declined by 350bps and 375bps to close at 11.13% and 11.50% respectively.
At the NTBills market, average yield remained unchanged at 8.43%.
However, activities at the bond market was bullish as average yield declined by 9bps to 14.23%.
The Naira exchange rate, at the I&E window, appreciated by N1.31 to N462.13/USD from N463.44/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.