Stock Market

All-Share Index Slips Further at the Local Bourse

To close the holiday shortened week, the All-Share index of the local bourse slipped further by 0.71% to 102,314.56. Bearish sentiment continued to prevail in some banking stocks like GTCO (-10.00%), FBNH (-6.71%), and ZENITHBANK (-3.73%) outweighing the demands in UBA (+4.57%), TRANSCORP (+9.93%), and  FIDELITYBK (+7.53%). Having lost in the two trading sessions this week, the ASI closed 1.09% w/w lower.

Over the course of the week, losses in GTCO (-13.75% w/w), FBNH (-11.15% w/w), and ZENITHBANK (-5.88% w/w),  outweighed buy interests in TRANSCORP (+10.33% w/w), FIDELITYBK (+3.09% w/w) , and STERLINGNG (+1.70% w/w) driving the market’s negative performance. Consequently, the year-to-date (YTD) return on the index slipped to 36.83%, while the market capitalization lost ₦632.95tn w/w to close at ₦57.86tn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 569.96%. A total of 734.04bn shares valued at ₦21.59bn were exchanged in 12,491 deals. UBA (+4.57%) led the volume and value chart with 148.88m units traded in deals worth ₦4.01bn.

Market breadth closed negative at a 0.34-to-1 ratio with declining issues outnumbering the advancing ones. GTCO (-10.00%) topped thirty-four  (34) others on the laggard’s table while TRANSCORP (+9.93%) led eleven (11) others on the leader’s log.


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