Bearish sentiments dominated the market in the last trading session as the All-Share Index lost 1.23% to close at 98,751.98 points. Selloffs in BUACEMENT (-10.00%), MTNN (-9.96%) and FIDELITYBK (-3.85%) outweighed gains in GTCO (+5.30%), ZENITHBANK (+1.43%), and FBNH (+0.72%) keeping the market in the negative terrain. Accordingly, having lost in four (4) of five (5) trading sessions this week, the ASI closed 3.27% lower w/w, offsetting most of the gains of the prior week.
Over the course of the week, losses in BUACEMENT (-10.00% w/w) and MTNN (-18.91% w/w), NESTLE (-18.18% w/w), and outweighed buy interests in GTCO (+6.79% w/w), ZENITHBANK (+0.57% w/w) , and TRANSCORP (+10.10% w/w) driving the market’s negative performance. Consequently, the year-to-date (YTD) return on the index declined to 32.07%, while the market capitalisation lost ₦1.83tn w/w to close at ₦54.04tn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 22.01%. A total of 367.62m shares valued at ₦6.78bn were exchanged in 9,168 deals. TRANSCORP (+9.93%) led the volume chart with 57.00m units traded while ZENITHBANK (+1.43%) led the value chart in deals worth ₦913.43m.
Market breadth closed positive at a 5.50-to-1 ratio with advancing issues outnumbering the declining ones. FTNCOCOA (+10.00%) topped forty-three (43) others on the leader’s table while BUACEMENT (-10.00%) led seven (7) others on the laggard’s log.
