(Greenwich Merchant Bank): The NGX-ASI and market capitalization rose by 0.90% to settle at 53,603.80points and 29.20trillion respectively. The top gainers are TRANSCORP 7.14%, DANGCEM 5.07%, ACCESCORP 2.87% and PZ 4.39%. Consequently, Year-To-Date, it has gained 4.59%.
The market sentiment was bullish as the volume traded rose by 16.38% and value traded increased by 58.74% to close at 236.07million units and N3,258.92million respectively. Also, TRANSCORP and ZENITHBANK recorded the highest volume and value traded respectively.
However, market breadth closed positive at 1.57x due to the gains reported in Twenty-two (22) equities, while Fourteen (14) stocks lost.
Although, sectorial performance was positive as the Banking 1.97%, Consumer goods 0.12%, and the Industrial 2.69% sector gained. While the Oil & Gas sector 0.00% closed flat. The Insurance 0.76% sector lost.
Fixed Income Market
The average system liquidity dipped by 28% to negative N617.50 billion from its negative opening balance of N482.43billion.
However, at the interbank rate the Open Buy Back and Overnight rate increased by 175bps and 100bps to close at 18.50% and 19.00% respectively.
At the close of market activities, average NTBills yield closed at 5.97%.
Similarly, at the Bonds market, trading activities was muted as it closed at an average yield of 13.97%.
The Naira exchange rate, at the I&E window, appreciated by N0.51 to N461.24/USD from N461.75/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.