Stock Market

NGX All-Share Closes Week Negative

For the third week in a row, the domestic bourse closed lower by 0.52%. Losses in Teir-1 banking tickers GTCO (-6.52% w/w), ZENITHBANK (-8.54% w/w) and FBNH (-10.89% w/w) were the major drags on the broader index offsetting gains in telco giant MTNN (+2.90% w/w) alongside TRANSCOHOT (+3.03% w/w). As a result, the ASI year-to-date (YTD) return fell to 30.54%, while the market capitalization shed ₦290.06bn w/w to close at ₦55.22trn.

In today’s trading session, the local bourse closed red by 37bps to 97,612.51 points. Continued selloffs in ZENITHBANK (-2.76%), FBNH (+9.31%) and UBA (-4.00%)  drove the market’s weak performance. Consequently, the market capitalization lost ₦206.63tn to close at ₦55.22tn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 104.45%. A total of 769.10m shares valued at ₦15.74bn were exchanged in 7,585 deals. ETI (-9.98%) led the volume and value tables with 554.97m units traded in deals worth ₦12.02bn.

Market breadth closed negative at a 0.89-to-1 ratio with declining issues outnumbering advancing ones. PZ (-10.00%) led seventeen (17) others on the laggard’s log, while INTENEGINS (+9.93%) topped fifteen (15) others on the leader’s table. 

On the sectoral breakdown, NGX Oil and Gas Index (+0.72%w/w), the NGX Consumer Goods Index (+0.31%w/w), and the NGX Industrial Goods Index (+0.19%w/w) closed positive while NGX Banking Index (-7.35%w/w), the NGX Insurance Index (-3.50%w/w), the NGX Pension Index (-2.79%w/w), and the NGX 30 Index (-0.63% w/w) closed negative.

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