Yesterday, Thursday, the Lagos bourse reversed some of the previous session’s gains as the benchmark index slipped by 0.02% to close at 47,353.22 points. Renewed selloffs in SEPLAT (-3.13%) drove the market’s weak performance. In addition, losses in NB (-1.98%) and DANGSUGAR (-1.25%) offset gains in PRESCO (+6.40%), FBNH (+1.70%) and ZENITHBANK (+0.19%). As a result, the ASI’s year-to-date (YTD) return fell to 10.85%, while the market capitalisation lost ₦6.06bn to close at ₦25.52trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 53.51%. A total of 239.73m shares valued at ₦3.89bn were exchanged in 3,848 deals. VERITASKAP (-4.55%) led the volume chart with 30.01m units traded, while MTNN (+0.00%), for the second consecutive session, led the value chart in deals worth ₦961.43m.
Market breadth closed positive at a 1.05-to-1 ratio, with advancing issues outnumbering declining ones. UACN (+10.00%) led seventeen (17) others on the leader’s log, while NIGERINS (-9.09%) topped sixteen (16) others on the laggard’s table.
