In today’s trading session, the Lagos bourse succumbed to selling pressures, closing 0.01% weaker. Gains in TRANSPOWER (+8.76%), OANDO (+1.32%) and UBA (+4.10%) were encountered by continued profit taking in ARADEL (-9.99%), ZENITHBANK (-0.13%) and FBNH (-0.76%). Consequently, the year-to-date (YTD) return slipped to 31.16% while market capitalization shed by ₦6.73bn today.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 86.66%. A total of 358.85m shares valued at ₦11.96bn were exchanged in 6,719 deals. JAPAULGOLD (+0.43%) led the volume chart with 136.56m units traded, while SEPLAT (+0.00%) led the value chart in deals worth ₦5.00bn.
Market breadth closed negative at a 0.91-to-1 ratio with declining issues outnumbering the advancing ones. ARADEL (-9.99%) topped twenty-two (22) others on the laggard’s table while UPL (+9.41%) led twenty (20) others on the leader’s log.
Meanwhile, the market sustained bullish sentiment this week, as the ASI and market capitalisation gained 0.48% to settle at 98,070.28 points and N59.43 trillion respectively. During the week, investors’ interest in TRANSPOWER (+19.29% w/w), GTCO (+2.04% w/w) and TRANSCOHOT (+7.78% w/w) bolstered the market’s performance, outweighing selloffs in UBA (-4.15% w/w), STANBIC (-1.84% w/w) and NESTLE (-2.25%w/w).
