NGX Relapses, ASI Down 0.43% as Market Value Sheds N158.01bn
NGX
The equities market of the Nigerian Exchange (NGX) relapsed from the previous session gains, as the market All Share Index (ASI) down by 0.43 per cent, while the market value declined by N158.01billion.
Specifically, the Nigerian equities ended lower on Wednesday, reversing some of the gains of the first trading session of them on Tuesday, which saw the benchmark index lost 0.43 per cent to close at 66,482.28 points.
Also, the market capitalization, which represents the market value shed N158.01billion to close at N36.39trillion, compared to N36.54 trillion recorded in the previous session.
Data obtained from the NGX showed that investors interest in Tier-1 banking names ZENITHBANK +1.27 per cent, GTCO +2.27 per cent and ACCESSCORP (+0.31 per cent was offset by continued selloffs in telco heavyweight, MTNN -3.85 per cent alongside FBNH -0.31 per cent and WAPCO -0.17 per cent putting the market in the red.
Consequently, the year-to-date (YTD) return fell to 29.72 per cent, but analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 19.38 per cent.
A total of 657.52million shares valued at N4.60billion were exchanged in 6,646 deals. FIDELITYBK 3.57 per cent led the volume chart with 31.69million units traded while GTCO +2.27 per cent led the value chart in deals worth N885.39million.
Market breadth closed positive at a 1.17-to-1 ratio with advancing issues outnumbering declining ones. OANDO +9.88 per cent led twenty (20) others on the leader’s log while WEMABANK -10.00 per cent topped 17 others on the laggard’s table.
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