…The benchmark index, the NGX All-Share Index (NGXASI) gave up 74bps to close at 98,708.90 points, the lowest Index Point in over a week
…Market capitalization down N448.41 billion to close at N59.81 trillion
…All other indices gave up grounds except NGXASEM, NGXMERIGRW and NGXMERIVAL
MON OCT 28 2024-theGBJournal| The Nigerian equities opened the week with bears feasting heavily on stocks, halting five consecutive sessions of gain.
The benchmark index, the NGX All-Share Index (NGXASI) gave up 74bps to close at 98,708.90 points, the lowest Index Point in over a week.
All other indices gave up grounds except NGXASEM, NGXMERIGRW and NGXMERIVAL.
The market relapse was primarily driven by losses in BUACEMENT (-10.00%), GTCO (-2.12%) and FBNH (-6.09%) encountering investors’ interest in ACCESSCORP (+2.49%), TRANSCORP (+9.95%) and FIDELITYBK (+0.70%), putting the market in the red.
As a result, the ASI year-to-date (YTD) return fell to 32.01%, while the market capitalization shed N448.41 billion to close at N59.81 trillion
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 52.22%. A total of 353.18 million shares valued at N4.55 billion were exchanged in 9,417 deals.
CHAMS (-0.50%) maintained its lead on the volume chart with 84.62m units traded, while UBA (-3.99%) continued to lead the value chart in deals worth N790.18 million.
Market breadth closed negative at a 0.63-to-1 ratio with declining issues outnumbering the advancing ones.
BUACEMENT (-10.00%) topped twenty-eight others on the laggard’s table while EUNISELL (+10.00%) led eighteen others on the leader’s log.
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