Equities market starts the week low, loses N71.85bn

Equities market starts the week low, loses N71.85bn

Admin

The equities market of the Nigerian Exchange Limited (NGX) closed the first trading session of the week low, as the market capitalisation depreciated by N71.85billion to close at N23.88trillion.

Specifically, the All-Share Index (ASI) declined by 0.30 per cent to close at 43,837.89 points, due to selloffs in MTN Nigeria; Offset gains in GTCO, FBN Holdings, and ACCESSCORP to drive the market’s weak performance.

As a result, the year-to-date (YTD) return fell to 2.63 per cent, and the market capitalisation shed N71.85billion to close at N23.88trillion.

Analysis of yesterday’s market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 17.05 per cent.

Consequently, a total of 187.09million shares valued at N2.54billion were exchanged in 3,324 deals, while ACCESSCORP led the volume chart with 87.92million units traded, MTN Nigeria, however, led the value chart in deals worth N764.37million.

Meanwhile, market breadth closed positive at a 1.33-to-1 ratio with advancing issues outnumbering declining ones.

FTNCOCOA (+9.68%) topped eleven (11) others on the gainer’s table, while UNITYBANK led eight others on the laggard’s log.