Today, Nigerian equities erased most of yesterday’s gains as the benchmark index shed 0.49% to close at 51,448.53 points. The market’s loss was primarily driven by the decline in telco heavyweight, AIRTELAFRI (-4.29%). As a result, the year-to-date (YTD) return fell to 0.39%, while market capitalisation shed ₦137.17bn to close at ₦28.02trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session with the value of transactions up by 182.12%. A total of 337.27m shares valued at ₦8.20bn were exchanged in 4,184 deals. FBNH (+0.00%) led the volume chart with 151.39m units traded while BUACEMENT (+0.00%) led the value chart in deals worth ₦2.92bn.
Market breadth closed positive at a 1.23-to-1 ratio with advancing issues outnumbering declining ones. MBENEFIT (+7.14%) led fifteen (15) others on the gainer’s table, while NEM (-10.00%) topped twelve (12) others on the laggard’s log.
