(Greenwich Merchant Bank): The local Bourse closed bullish as the NGX-ASI and market capitalization increased by 0.07% to settle at 71,052.85points and N39.07trillion respectively. Hence, Year-To-Date, it increased to 38.64%.
The top gainers were ENAMELWA 9.97%, BETAGLAS 10.00%, INFINITY 9.84%, and MULTIVERSE 9.98%.
Trading activities was mixed as the total volume traded expanded 31.57% while value traded declined 53.32% to close at 563.71 million units and N3.44 billion respectively. Also, UNIVINSURE and ZENITHBANK were the most traded stock by volume and value respectively.
In addition, market breadth closed positive at 1.72x as a result of the Thirty– one (31)gainers and Eighteen (18) decliners.
Fixed Income Market
The average system liquidity eased to a net short position of N363 billion from its opening balance of net short N204 billion.
At the interbank market, both the Open Buy Back and Overnight rate increased 183bps and 150bps to close at 25.67% and 26.67% respectively.
At the NTBills market average yields closed flat to remain at 12.29%.
The Bond market closed bearish as the average yields rose by 21bps to settle at 16.25%.
FX Market
The Naira exchange rate, at the NAFEM window depreciated by NGN115.80/USD to close at NGN956.33/USD from NGN840.53/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
