In the first trading session of the month, the market shed 22bps to close at 97,432.02 points. Investors interest in GTCO (+2.98%), ZENITHBANK (+3.25%), and FBNH (+3.25%) were outweighed by losses in MTNN (-0.06%), ARADEL (-10.00%) and UBA (-2.68%). As a result, the ASI year-to-date return decreased to 30.30%, while the market capitalization lost ₦132.83bn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 58.24%. A total of 888.80m shares valued at ₦15.84bn were exchanged in 8,803 deals. FIDELITYBK (+0.70%) led the volume and value charts with 540.82m units traded in deals worth ₦7.69bn.
Market breadth closed negative at a 0.79-to-1 ratio with declining issues outnumbering the advancing ones. For the second time in a row, ARADEL (-10.00%) topped twenty-eight (28) others on the laggard’s table while JOHNHOLT (+10.00%) led twenty-two (22) others on the leader’s log.
Ending the week, the All-Share index lost 203bps week-on-week as selloffs in index heavyweight MTNN (-4.89% w/w), BUACEMENT (-11.09% w/w) and FBNH (-6.09% w/w) overturned investor’s interest in GTCO (+6.35% w/w), ZENITHBANK (+3.38% w/w) and ACCESSCORP (+0.23%w/w). Accordingly, the market capitalization lost ₦1.22trn w/w to close at ₦59.04trn.
