NGX ASI Extends Bearish Run as Market Cap Down N21.14b

The equities market of the Nigerian Exchange Limited (NGX) on the first trading day of the week, extended its losing streak for the third consecutive session as the market capitalization lost N21.14billion to close at N36.74trillion.

Also, the All-Share Index (ASI) closed weaker by 0.06 per cent weaker to settle at 66,876.92.

Losses in GTCO (-0.85%), DANGSUGAR (-3.94%) and FIDELITYBK (-0.61%) were the primary drivers of the market decline, offsetting the gains in ZENITHBANK (+0.61%), ACCESSCORP (+0.61%) and NB (+2.63%).

Consequently, the ASI’s year-to-date (YTD) return fell to 30.49 per cent, while the market capitalization lost N21.14billion to close at N36.74trillion.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 31.22 per cent.

A total of 314.62million shares valued at N4.39billion were exchanged in 6,133 deals. UBA (+0.79%) led the volume chart with 47.15million units traded, while GTCO (-0.85%) led the value chart in deals worth N959.25million.

Market breadth closed positive at a 1.13-to-1 ratio with advancing issues outnumbering declining ones. ACADEMY (+9.71%) topped 16 others on the leader’s table, while VFDGROUP (-9.99%) led 14 others on the laggard’s table.