Over the course of the week, losses in MTNN (-9.82% w/w), ZENITHBANK (-8.17% w/w), and FBNH (-16.26% w/w), outweighed buy interest in GTCO (+5.97% w/w), UBA (+1.32% w/w) , and FIDELITYBK (+5.62% w/w) driving the market’s negative performance. Consequently, the year-to-date (YTD) return on the index slipped to 31.27%, while the market capitalization lost ₦784.72bn w/w to close at ₦55.51tn.
In today’s trading session, activity was mixed albeit with a bearish tilt as the benchmark index closed marginally lower by 2bps to close at 98,152.91 points. Continued selloff in blue-chip ZENITHBANK (-0.91%), GTCO (-1.25%) and NESTLE (-3.01%) offset the investors interest in FBNH (+10.00%), UBA (+0.88%), and ACCESSCORP (+3.75%). Having lost in three of the five trading sessions this week, the ASI closed 1.39% w/w lower.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 22.92%. A total of 265.07m shares valued at ₦5.02bn were exchanged in 6,582 deals. UBA (-0.88%) led the volume and value chart with 42.35m units traded in deals worth ₦980m.
Market breadth closed negative at a 0.95-to-1 ratio with declining issues outnumbering the advancing ones. SOVRENINS (-10.00%) topped eighteen (18) others on the laggard’s table while FBNH (+10.00%) led seventeen (17) others on the leader’s log.
Coronation
