(Greenwich Merchant Bank): The local Bourse closed bullish as the NGX-ASI and market capitalization increased by 0.02% to settle at 71,025.16 points and N39.06trillion respectively. Hence, Year-To-Date, it increased to 38.58%.
The top gainers were NB 5.26%, NNFM 9.85%, AIICO 5.63%, and DEAPCAP 7.32%.
Trading activities was mixed as the total volume rose 62.70% while the total value traded retreated by 28.93% to close at 483 million units and 4.37 billion respectively.
Also, REGALINS and OANDO were the most traded stock by volume and value respectively.
In addition, market breadth closed negative at 0.61x as a result of the Thirty– three (33) decliners and Twenty (20)gainers.
Fixed Income Market
The average system liquidity increased to N31 billion from its opening balance of net short N97 billion position.
At the interbank market, both the Open Buy Back and Overnight rate moderated 4bps and 8bps to close at 22.21% and 22.92% respectively.
The NTBills market closed bullish as average yields declined slightly by 1bp to close at 13.33%.
Although, the Bond market closed flat as the average yields staying quiet at 15.95%.
The Naira exchange rate, at the NAFEM window depreciated by NGN22.15/ USD to close at NGN841.14/USD from NGN818.99/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.