The Lagos bourse closed the week down by 136bps w/w. Over the course of the week, selloffs in AIRTELAFRI (-10.32% w/w), ZENITHBANK (-1.73% w/w) and FBNH (-7.41% w/w) were the primary drivers of the weak performance, outweighing gains in MTNN (+2.33% w/w), GTCO (+8.79% w/w) and UBA (+2.33% w/w). Accordingly, having lost in four (4) of five (5) trading sessions this week, the ASI year-to-date (YTD) return fell to 31.37%, while the market capitalization lost ₦761.40tn w/w to close at ₦55.56tn.
In today’s trading session, the NGX All-Share Index slipped by 2bps to 98,233.76 points. Losses in FBNH (-0.40%), ACCESSCORP (-0.57%) and TRANSCORP (-2.70%) offset gains in GTCO (+3.63%) and UBA (+0.96%). As a result, the market capitalization lost ₦8.34tn to close at ₦55.56tn today.
Analysis of today’s market activity by Coronation showed that trade turnover settled 54.86% lower than the previous session, with 344.38 million shares valued at ₦7.52 billion in 8,497 deals. UBA (+0.96%) led the volume and value table with 90.12 million units traded in deals worth ₦2.41 billion.
Market breadth closed positive at a 1.04-to-1 ratio with advancing issues outnumbering the declining ones. HONYFLOUR (+9.97%) topped twenty-four (24) others on the leader’s table while MANSARD (-10.00%) led twenty-three (23) others on the laggard’s log.
On the sectoral breakdown, while the NGX Industrial Goods Index managed to eke out 7bps, the NGX 30 Index (-1.46%), the NGX Consumer Goods Index (-1.18%), the NGX Pension Index (-1.14%), the NGX Insurance Index (-1.01%), NGX Oil and Gas Index (-0.33%) and NGX Banking Index (-0.07%) closed negative.
