(Greenwich Merchant Bank): The local Bourse closed bullish as the NGX-ASI and market capitalization increased by 0.78% to settle at 71,808.64points and N39.29trillion respectively. Hence, Year-To-Date, it increased to 40.11%.
The top gainers were ACCESSCORP 9.04%, FBNH 9.91%, ETI 9.88%, and MULTIVERSE 9.90%.
Trading activities was bullish as the total volume and value traded surged by 59.15% and 8.88% to close at 690.01 million units and N12.1 billion respectively. Also, GTCO were the most traded stock by volume and value respectively.
In addition, market breadth closed positive at 1.62x as a result of the Thirty– four (34)gainers and Twenty-one (21) decliners.
Fixed Income Market
The average system liquidity increased significantly to N644billion from its opening balance of N426 billion.
At the interbank market, both the Open Buy Back and Overnight rate expanded by 66bps and 68bps to close at 16.21% and 16.68% respectively.
The NTBills market closed bearish as average yields increased by 34bps to settle at 10.02%.
Although, the Bond market closed bullish as the average yields retreated by 2bps to settle at 15.77%.
FX Market
The Naira exchange rate, at the NAFEM window depreciated by NGN144.49/USD to close at NGN951.22/USD from NGN806.73/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
