Opening the week, the Nigeria equities extended losses as the All-Share Index closed 0.34% weaker to settle at 73,768.64. Losses in industrial heavyweight, DANGCEM (-2.19%), STANBIC (-6.01%) and DANGSUGAR (-1.31%) were the primary drivers of the market decline, offsetting the gains in MTNN (+0.40%), ZENITHBANK (+0.26%) and GTCO (+0.50%). Consequently, the ASI’s year-to-date (YTD) return fell to 43.94%, while the market capitalisation lost ₦139.34bn to close at ₦40.37trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 21.99%. A total of 432.91m shares valued at ₦12.94bn were exchanged in 8,901 deals. JAIZBANK(+8.75%) led the volume chart with 35.38m units traded while GEREGU (+0.00%) led the value chart with deals worth ₦6.06bn.
Market breadth closed positive at a 1.76-to-1 ratio with advancing issues outnumbering the declining ones. ETERNA (+10.00%) topped thirty-six (36) others on the leader’s table while UACN (-10.00%) led twenty (20) others on the laggard’s log.
