The benchmark index of the local market declined by 0.27% to close at 103,437.67 points. Selloffs of MTNN (-0.87%), GTCO (-2.04%), and ZENITHBANK (-1.62%) outweighed gains in DANGSUGAR (+5.36%), OKOMUOIL (+1.65%), and STERLINGNG (+1.95%), keeping the market in the red. Accordingly, having lost in the four trading sessions this week, the ASI closed 1.08% w/w lower.
Over the course of the week, losses in MTNN (-2.16% w/w), GTCO (-8.57% w/w), and ZENITHBANK (-4.49% w/w), outweighed buy interests in DANGSUGAR (+13.46% w/w), OKOMUOIL (+1.65% w/w) , and ETI (+6.12% w/w) driving the market’s negative performance. Consequently, the year-to-date (YTD) return on the index slipped to 38.33%, while the market capitalization lost ₦622.93tn w/w to close at ₦58.50tn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 19.75%. A total of 2.24bn shares valued at ₦18.73bn were exchanged in 8,527 deals. ABBEYBDS (+4.53%) led the volume chart with 1.40m units traded while ZENITHBANK (-1.62%) led the value chart in deals worth ₦3.66bn.
Market breadth closed negative at a 0.55-to-1 ratio with declining issues outnumbering the advancing ones. CWG (-10.00%) topped twenty-eight (28) others on the laggard’s table while CUTIX (+10.00%) led fifteen (15) others on the leader’s log.
Coronation
