TUE, 14 JUNE, 2022-theGBJournal| Nigerian equities opened the week on a weak note, reversing last session gains as the All-Share Index was 0.16% weaker to close at 53,114.65 points, the lowest point since 06 June. Extended selloffs in Tier-1 banks, ZENITHBANK (-0.66%), GTCO (-2.27%), STANBIC (-2.35%), as well as cement maker, WAPCO (-1.07%) were the primary drivers of the market’s weak performance offsetting gains in NB (+0.79%).
As a result, the year-to-date (YTD) return fell to 24.34%, as market capitalization shed N46.76bn to close at N28.63trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 17.11%. A total of 300m units of shares valued at N3.1bn were exchanged in 5,394 deals. FCMB (+0.00%), led the volume chart with 52.08m units traded, while GTCO (-2.27%) led the value chart in deals worth N446.15m.
Market breadth closed negative at a 3.13-to-1 ratio with declining issues outnumbering advancing ones. CAP (-9.93%) led twenty-four (24) others on the laggard’s table, while LEARNAFRICA (+9.72%) topped seven (7) others on the gainer’s log
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