…Trade turnover settled higher relative to the previous session, with the value of transactions up 35.71%.
…Selloff in telco heavyweight, MTNN (-3.40%) as well as GTCO (-0.22%) and DANGSUGAR (-1.44%) underpinned the market’s weak performance
…UCAP (+10.00%) topped twenty-seven others on the leader’s table
WED JULY 17 2024-theGBJournal| Nigerian heavyweight stocks closed lower Wednesday as the benchmark index shed 0.04% to close at 100,032.32 points, snapping its three-day winning streak.
Selloff in telco heavyweight, MTNN (-3.40%) as well as GTCO (-0.22%) and DANGSUGAR (-1.44%) underpinned the market’s weak performance despite gains in FBNH (+3.94%), UBA (+3.70%) and ACCESSCORP (+0.52%).
The year-to-date return slipped to 33.78%, while market capitalisation lost N24.51 billion to close at N56.55 trillion.
Today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up 35.71%.
A total of 1.10 million shares valued at N10.08 billion were exchanged in 8,720 deals. JAIZBANK (+3.72%) led the volume chart with 528.49 million units traded while ZENITHBANK (+0.00%) led the value chart with deals worth N3.11 billion.
Market breadth closed positive at a 2.15-to-1 ratio with advancing issues outnumbering the declining ones. UCAP (+10.00%) topped twenty-seven others on the leader’s table while RTBRISCOE (-5.71%) led twelve (12) others on the laggard’s log.
Meanwhile, the local continues its wobbly performance against the U.S dollar as it fell 0.3% to NGN1,581.65/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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