…The market capitalization lost N1.22 trillion w/w to close at N59.04 trillion.
SAT NOV 02 2024-theGBJournal|The NGX All-Share index lost 203bps week-on-week as selloffs in index heavyweight MTNN (-4.89% w/w), BUACEMENT (-11.09% w/w) and FBNH (-6.09% w/w) overturned investor’s interest in GTCO (+6.35% w/w), ZENITHBANK (+3.38% w/w) and ACCESSCORP (+0.23%w/w).
All other indices finished lower with the exception of NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX MERI Value, NGX Oil & Gas and NGX
Growth which appreciated by 0.19%, 1.76%, 1.52%, 0.16%, 0.48%, 1.15%, and 0.07% respectively while the NGX ASeM index closed flat.
The market capitalization lost N1.22 trillion w/w to close at N59.04 trillion.
Trading in the top three equities namely Fidelity Bank Plc, Chams Holding Company Plc and United Bank for Africa Plc (measured by volume) accounted for 1.225 billion shares worth N17.721 billion in 4,912 deals, contributing 45.10% and 32.44% to the total equity turnover volume and value respectively.
On Friday, the first trading session of the month, the market shed 22bps to close at 97,432.02 points. Investors interest in GTCO (+2.98%), ZENITHBANK (+3.25%), and FBNH (+3.25%) were outweighed by losses in MTNN (-0.06%), ARADEL (-10.00%) and UBA (-2.68%). As a result, the ASI year-to-date return decreased to 30.30%, while the market capitalization lost N132.83 billion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 58.24%. A total of 888.80m shares valued at N15.84 billion were exchanged in 8,803 deals.
FIDELITYBK (+0.70%) led the volume and value charts with 540.82m units traded in deals worth N7.69 billion.
Market breadth closed negative at a 0.79-to-1 ratio with declining issues outnumbering the advancing ones. For the second time in a row, ARADEL (-10.00%) topped twenty-eight others on the laggard’s table while JOHNHOLT (+10.00%) led twenty-two others on the leader’s log.
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