Thursday, March 24, 2022, the Lagos bourse reversed gains from the previous trading session as the All-Share index lost 0.43% – the largest single day loss since 27 January 2022 – to close at 46,961.62 points – the lowest point since 2 February 2022 – putting the index on track for its second consecutive week of loss. Selloffs in telco heavyweight, MTNN (-0.73%) and some Tier-1 banks, GTCO (-1.29%), ZENITHBANK (-1.12%) and UBA (-0.65%) kept the market in the negative terrain. Consequently, the year-to-date (YTD) return fell to 9.94%, while market capitalization lost ₦109.04bn to close at ₦25.31trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 18.35%. A total of 214.70m shares valued at ₦2.63bn were exchanged in 4,003 deals. For the second consecutive session, FIDELITYBK (+1.54%) led the volume chart with 48.26m units traded, while GTCO (-1.29%) led the value chart in deals worth ₦606.92m.
Market breadth closed positive at a 1.14-to-1 ratio with advancing issues outnumbering declining ones. VERITASKAP (+9.52%) topped fifteen (15) others on the gainer’s log, while RTBRISCOE (-9.72%) led thirteen (13) others on the laggard’s table.
Find below key highlights of market activities.
