(Greenwich Merchant Bank): The local bourse market closed bullish as the NGX-ASI and market
capitalization traded inches higher by 1.45% to settle at 68,111.71 points and N37.42 trillion respectively. Hence, Year-To-Date, it increased to 32.90%.
The top gainers were DANGCEM 5.77%, NAHCO 9.45%, CHAMS 6.32%, and STANBIC 9.23%.
Trading activities closed green as the total volume and value traded surged 100.98% and 59.47% to close the day at 430 million units and 8.25 billion respectively. Also, UNIVINSURE and GEREGU was the most traded stock by volume and value respectively.
In addition, market breadth closed positive at 2.56x as a result of the Forty-One (41) advancers and Sixteen (16) decliners.
Fixed Income Market
The average system liquidity increased by 13% to N963 billion from its opening balance of N849 billion.
At the interbank market, both the Open Buy Back and Overnight rate rose 90bps and 119bps to close at 15.30% and 15.94% respectively.
The NTBills market closed bearish as average yields increased by 361bps to close at 10.34%.
Similarly, at the Bond market average yields increased marginally by 2bps to settle at 15.08%.
The Naira exchange rate, at the NAFEM window depreciated significantly by NGN203.87/USD to close at NGN993.82/USD from NGN789.94/USD
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.