NGX All-Share Index extends decline, down 4bps

Nigerian equities extended losses for the second consecutive session as the All-Share Index closed 0.04% weaker to close at 53,170.73 points, the lowest point since 03 June. Nonetheless, the index remains on track for a week of gain, recouping some of the losses of the past week.

On market movers, the weak performance was driven by selloffs in NB (-1.10%) and most Tier-1 banks, ZENITHBANK (-2.35%), GTCO  (-0.89%), UBA (-1.28%) and ACCESSCORP (-0.51%). Consequently, the year-to-date (YTD) return fell to 24.47%, with the market capitalization down by ₦12.53bn to close at ₦28.66trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 79.36%. A total of 318.42m shares valued at ₦3.34bn were exchanged in 4,345 deals. TRANSCORP (+1.54%) led the volume chart with 165.21m units traded while NESTLE (+0.00%) led the value charts in deals worth ₦678.54m.

Market breadth closed negative at a 1.21-to-1 ratio, with declining issues outnumbering advancing ones. CILEASING (-8.57%) topped sixteen (16) others on the laggard’s log, while UPL (+9.43%) led thirteen (13) others on the leader’s table.

Find below key highlights of market activities.