(Greenwich Merchant Bank): The NGX-ASI and market capitalization increased by 0.02% to settle at 51,138.92points and 27.85trillion respectively. The top gainers are NAHCO 5.45%, STERLINGNG 2.05%, FBNH 1.46% and NEM 2.83%. Consequently, Year-To-Date, it has declined to 0.22%.
Although, market sentiment was bullish as the volume and value traded increased by 706.77% and 220.17% to close at 1,819.96million units and N5,020.30million respectively. Also, TRANSCORP emerged as the highest volume and value traded.
However, market breadth closed negative at 0.95x due to the gains reported in Twenty (20) equities, while Twenty-One (21) stocks lost.
Sectorial performance was bearish as the Consumer sector 0.06%, Banking (0.50%), Industrial (0.01%), and Insurance (1.43%) sector lost. The Oil & Gas sector 0.12% gained.
Fixed Income Market
The average system liquidity closed negative N224.70billion from its opening balance of negative N262.27billion.
However, at the interbank market, the Open Buy Back rate and Overnight rate maintained status-quo at 18.63% and 19.00% respectively.
In the NTBills market, market activities were muted as average yield remained flat at 8.16%.
Also, at the Bonds market, trading activities closed with average yield at 14.33%.
The Naira exchange rate, at the I&E window, depreciated by N1.00 to N463.25/USD from N462.25/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.