Nigerian Stocks Market Relapses, Sheds N132.61bn
The Nigerian stocks market at the end of first trading day of the week relapsed from its last week’s bullish run, as the market capitalization shed N132.61billion to close at N38.80trillion.
Opening the week, the local equities ended mixed with a bearish tilt as the benchmark Index shed 0.35 per cent to settle at 70,608.02 points.
Gains in Telco Heavyweight, MTNN (+2.56%), ZENITHBANK (+1.36%) and GTCO (+0.84%) were offset by losses in BUACEMENT (-7.76%), ACCESSCORP (-0.29%) and INTBREW (-1.11%).
As a result, the ASI’s year-to-date (YTD) return fell to 37.77 per cent, while
analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 39.35 per cent.
A total of 474.39m shares valued at N7.75billion were exchanged in 7,630 deals. FIDELITYBK (+0.00%) led the volume chart with 94.05million units traded, while MTNN (+2.56%) led the value chart in deals worth N2.23billion.
Market breadth closed negative at a 1.25-to-1 ratio with declining issues outnumbering advancing ones. JAPAULGOLD (-9.09%) led 14 others on the laggard’s log while OANDO (+7.81%) topped 11 others on the leader’s table.
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