News hotlines: 08111813019, 08025868561
Today, the domestic bourse reversed course after yesterday’s rally bringing the benchmark index lower by 0.12% to settle at 50,014.60 points. Losses in telco heavyweight, MTNN (-0.50%) alongside Tier-one banking names, ZENITHBANK (-0.23%), GTCO (-0.49%), STANBIC (-3.28%) and UBA (-2.78%) kept the market in the negative terrain. Consequently, the year-to-date (YTD) return fell to 17.09%, while the market capitalisation lost ₦32.83bn to close at ₦26.98trn. The loss puts the index on track for its first weekly loss in the month.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 8.49%. A total of 109.06m units of shares valued at ₦2.26bn were exchanged in 4,034 deals. UBA (-2.78%) led the volume chart with 20.45m units traded, while MTNN (-0.50%) led the value chart in deals worth ₦1.22bn.
Market breadth closed positive at a 1.40-to-1 ratio, with advancing issues outnumbering declining ones. NAHCO (+10.00%) led twenty (20) others on the leader’s log, while ABCTRANS (-6.67%) topped fourteen (14) others on the laggard’s table.
Find below key highlights of market activities.