The Nigerian equities market closed positively by 0.20% as the NGX-ASI settled at 48,543.36pts.
The trade witnessed market breadth index broadly positive with 43 gainers against 16 losers.
The positive performance was engineered by the gains recorded in UPDCREIT (+10.00%), IKEJAHOTEL (+9.93%), ETERNA (+9.92%), OANDO (+9.90%) and SKYAVN (+9.89%).
These offset the losses recorded in UNITYBNK (-6.00%), ACADEMY (-5.98%), JAPAULGOLD (-5.88%), UPDC (-4.49%) and WAPIC (-4.35%).
Sector performances were positive today as the Consumer Goods (+2.45%), Oil and Gas (+1.44%) and Banking (+0.34 %), while the Industrial (-1.10%) sector closed negatively.
In terms of activity levels, total volume decreased by 4%, while value increased by 5%, as investors exchanged about 328million units of shares worth N4.04billion.
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ZENITHBANK (+0.99%) was the most actively traded stock with about 35million units of shares worth about N912million.
The equities market closed positively today due to the gains recorded across most sectors.
According to analysts at Investment Management & Research, `We expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.
CURRENCY:
At the IEFX window, the Naira appreciated by 0.93%, 0.25% and 0.77% against the GBP, USD and EUR to close at N528.59, N417.30 and N445.33 respectively.
Going forward, `we expect the FX market to be dictated by heightened dollar demand and CBN FX policies, ' they said.
FIXED INCOME:
Money market rates improved today as Open Buy Back and Overnight rates rose by 567bps and 558bps to close at 10.67% and 11.25% respectively.
The bond market traded on a tepid note as yields on most maturities remained unchanged. The yields on the 5yr, 7yr and 10yr benchmark bonds closed flat at 10.98%, 11.05% and 11.48%.
In the near term, 'we expect market activity to be influenced by liquidity levels and foreign investor participation,' they added l.
