The Nigerian bourse closed northwards by 0.01% as the NGX ASI settled at 51,563.73pts.
Thursday’s trading operations, market breadth index was positive with 15 gainers against 10 losers.
The performance was positive as the gains recorded in ACADEMY (+9.55%), NAHCO (+9.41%), FTNCOCOA (+9.38%), HONYFLOUR (+8.39%) and IKEJAHOTEL (+8.20%) offset the losses printed in RTBRISCOE (-8.11%), UPDC (-7.87%), REGALINS (-7.41%), JAPAULGOLD (-3.45%) and FBNH (-3.20%).
Sectorally, performances were positive as the Banking with (+0.50%) and Consumer Goods (+0.12%) sectors closed in green.
The Industrial and Oil and Gas sectors closed flat.
In terms of activity levels, total volume and value increased by 6% and 22% respectively, as investors exchanged about 143million units of shares worth N1.76billion.
JAIZBANK (+3.70%) was the most actively traded stock with about 42million units of shares worth about N36million.
The equities market closed marginally positive today due to the appreciation seen in the Banking and Consumer Goods sectors.
Analysts at Investment Management & Research expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space, moving forward.
“We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon, “ they said.
At the IEFX window, the Naira depreciated by 0.17%, 0.52% and 0.79% against the GBP, USD and EUR to close at N507.33, N427.75 and N430.46 respectively.
The analysts also expect the FX market to be dictated by heightened dollar demand and CBN FX policies.However, money market rates were mixed as Open Buy Back rate rose by 17bps to close at 14.00% while the Overnight rate closed flat at 14.00%.
The bond market traded on a tepid note, as yields on most maturities closed flat.
The yields on the 5yr and 10yr benchmark bonds closed flat at 10.72% and 11.24% respectively while the yield on the 7yr benchmark bond fell by 1bp to 10.91%.
LIquidity levels and foreign investor participation are expected to influence the market in the near term.
