NGX Ends 13-day Winning Streak, Sheds N429.77bn

The equities market of the Nigerian Exchange Limited (NGX) on Thursday ended its 13-day winning streak, as market capitalization lost N429.77billion to close at N27.71trillion.

Also, the All-Share Index (ASI) shed 1.53 per cent to close at 50,868.52 points, selloff in index heavyweight, AIRTELAFRI (-8.26%) was the major drag on the overall market.

Consequently, the year-to-date (YTD) return fell to -0.75 per cent.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 86.49 per cent.

A total of 138.72m shares valued at N1.83bn were exchanged in 3,673 deals. STERLNBANK (-2.10%) led the volume chart with 29.15m units traded, while GTCO (+2.13%) led the value chart in deals worth N477.77million.

Market breadth closed positive at a 1.38-to-1 ratio with advancing issues outnumbering declining ones. HONYFLOUR (+9.95%) led seventeen (17) others on the gainer’s table, while AIRTELAFRI (-8.26%) topped twelve (12) others on the laggard’s log.