As the market sustained the bearish run from the previous week, the equities market closed 0.46% lower week-on-week with selling pressure in MTNN (-5.00% w/w), FBNH (-2.38% w/w), UBA (-4.75% w/w) driving the market relapse. Accordingly, the market capitalization lost ₦107.70bn w/w to close at ₦55.50trn.
In today’s trading session, the domestic bourse snapped from its eight consecutive sessions of losses, as the benchmark index posted a 40bps rebound to close at 97,745.73 points. Investors interest in GTCO (+2.27%), ZENITHBANK (+2.86%), and UBA (+1.26%) drove the market’s recovery. As a result, the ASI year-to-date return increased to 30.72%, while the market capitalization gained ₦219.14bn today.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 53.68%. A total of 210.91m shares valued at ₦3.95bn were exchanged in 6,603 deals. UBA led the volume and value charts, with 37.64m units traded in deals worth ₦752.02m.
Market breadth closed positive at a 3.40-to-1 ratio with advancing issues outnumbering declining ones. OKOMUOIL (+10.00%) topped thirty-three (33) others on the leader’s log, while MECURE (-9.82%) led nine (9) others on the laggard’s table.
On the sectoral breakdown, the NGX Consumer Goods (-3.33%w/w) led the laggards, followed by the NGX Pension Index (-0.97%w/w), the NGX 30 Index (-0.60%w/w), the NGX Banking Index (-0.48% w/w) and the NGX Industrial Index (-0.01%w/w). Contrarily, the NGX Oil and Gas Index (+4.27%w/w) and the NGX Insurance Index (+1.59%w/w) closed in the green.
Coronation
