THUR MAY 23 2024-theGBJournal| The Nigerian equities market extended losses from the previous session as the benchmark index slipped by 0.15% to close at 97,978.02 points.
Continued sell pressure in GTCO (-2.63%), ZENITHBANK (-0.48%) and UBA (-1.72%) drove the market’s negative performance.
Consequently, the market is on track for a third uninterupted weekly loss. The ASI year-to-date (YTD) return fell to 31.03%, while market capitalisation shed by ₦84.71bn to close at N55.42 trillion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 41.67%.
A total of 316.45m shares valued at N7.70 billion were exchanged in 7,852 deals. UBA (-1.72%) led the volume chart with 50.32m units traded, while JBERGER (+0.00%) led the value chart in deals worth N1.46 billion.
Market breadth closed negative at a 0.54-to-1 ratio with declining issues outnumbering advancing ones. SKYAVN (-9.80%) topped twenty-seven others on the laggard’s table, while CILEASING (+9.90%) led fourteen others on the leader’s log.
Meanwhile, the naira crashed by 1.6% to NGN1,485.66/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
