Samuel Mobolaji
The Nigerian Exchange (NGX) saw its market capitalization drop significantly by N188.47 billion, closing at N56.27 trillion, as the All-Share Index declined by 33 basis points (bps) to settle at 99,468.90 points. This marks the sixth consecutive session of losses for the NGX.
Bearish sentiment in SEPLAT (-8.30 per cent), ACCESSCORP (-1.04 per cent), and TRANSCORP (-3.63 per cent) drove the market’s weak performance, overshadowing gains in AIRTELAFRI (+0.14 per cent), GTCO (+0.22 per cent), and ZENITHBANK (+0.13 per cent).
Having experienced losses in four trading sessions this week, the market is on track for another week of decline. Consequently, the year-to-date (YTD) return fell to 33.03 per cent.
Yesterday’s market activity analysis revealed a significant decline in trade turnover compared to the previous session, with the transaction value down by 53.99 per cent.
A total of 269.73 million shares valued at N5.45 billion were exchanged in 7,126 deals. FIDELITYBK (-0.48 per cent) led the volume chart with 46.78 million units traded, while SEPLAT (-8.30 per cent) led the value chart with deals worth N1.15 billion.
Market breadth closed positive with a 1.24-to-1 ratio, as advancing issues outnumbered declining ones. LINKASSURE (+9.80 per cent) topped twenty other gainers, while IKEJAHOTEL (-9.29 per cent) led sixteen laggards.
