(Greenwich Merchant Bank): The Nigerian equities market opened the week positively as the NGX-ASI and market capitalization gained by 0.95% to settle at 53,157.83 points and N28.953trillion respectively. The gain recorded could be attributed to increased market price of GEREGU 10.00%, PZ 4.88%, NAHCO 9.62% and
MAYBAKER 8.26%. Consequently, Year-to-Date, the NGX-ASI increased by 3.72%.
Also, market activities was bullish as volume and value traded increased by 20.76% to 201.36 million units and 152.24% N5,666.34million respectively.
Moreso, ZENITHBANK had the highest volume traded while GEREGU was the highest value traded. Furthermore, market breadth was equally bullish at 2.15x as Twenty-eight (28) counters gained, but Thirteen (13) counters lost.
On the sectoral performance, the gainers were Industrial goods 0.01%, Oil & Gas 0.13% and Insurance sector 0.36%. However, the laggards were Consumer Goods sector (0.39%) and Banking sector (0.03%).
Fixed Income Market
System’s liquidity dipped by 52.22% to N581.26billion from a high of N1,216.55billion, however, the Open Buy Back and Overnight rate closed same at 10.50% and 11.00% respectively.
Trading activities at the NTBills closed bearish, thus average yield increased by 7bps to 1.68%.
Also, mixed sentiments dominated trading activities at the Bond marke as average yield increased marginally by 1bp to close at 13.58% from 13.57%.
At the FX market, the Naira exchange rate increased marginally at the Investors and Exporters (I&E) window by N0.25/USD to close at N461.50/USD from N461.75/USD.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
