Thursday, December 8, 2022, the domestic bourse ended its four-day winning streak as the benchmark index shed 0.13% to close at 48,365.14 points. Selloffs in telco heavyweight, MTNN (-2.27%) as well as GTCO (-0.48%), and WAPCO (-0.46%) underpinned the market’s weak performance despite gains in BUACEMENT (+2.44%), ZENITHBANK (+0.23%) and UBA (+0.69%). Consequently, the year-to-date (YTD) return fell to 13.22%, while market capitalization lost ₦33.42bn to close at ₦26.34trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 11.20%. A total of 148.16m units of shares valued at ₦2.98bn were exchanged in 3,391 deals. ETI (+2.86%), led the volume chart with 26.36m units traded, while MTNN (-2.27%) led the value chart in deals worth ₦1.19bn.
Market breadth closed positive at a 1.75-to-1 ratio with advancing issues outnumbering declining ones. CHAMS (+9.09%) led thirteen (13) others on the leader’s table, while HONYFLOUR (-9.09%) topped seven (7) others on the laggard’s log.
