(Greenwich Merchant Bank): The NGX-ASI and market capitalization increased by 0.14% to 55,605.57 points and 30.29trillion respectively. The increase was due to gains from UCAP 1.37%, JBERGER 10.00%, NAHCO 3.01% and STERLNBANK 2.67%. Consequently, Year-To-Date, it has gained 8.50%.
The market sentiment was negative as the volume and value traded decreased by 83.54% and 6.72% to close at 123.55million units and N2,483.71million respectively. Also, TRANSCORP and GEREGU recorded the highest volume and value traded respectively.
Moreso, market breadth closed positive at 0.8x due to the gains reported in Sixteen (16) equities, while Twenty (20) stocks lost.
On the sectorial performance, the Industrial 0.01% and Insurance 0.10% sectors gained. While, the Consumer goods 0.11% and Banking 0.30% sectors lost.
Fixed Income Market
The average system liquidity declined by 69% to N309.46 billion from its opening position of N985.49billion.
However, average interest rate was at variance with market reality as the Overnight rate and Open Buy Back rate fell by 100bps and 74bps to 11.13% and 11.69% respectively.
At the close of market activities, trading at the NTBills market was quiet as the average yield closed at 4.26%.
At the Bonds market, trading was mildly bullish as average yield decreased by 3bps to 13.48%.
The Naira exchange rate, at the I&E window gained by 42bps to N461.33/USD from N461.75/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.