WED MAY 15 2024-theGBJournal| Bearish sentiment drove the domestic bourse Wednesday as the NGX All-Share Index closed 0.13% lower to 97,343.42 points, marking its fourth successive session decline.
Sell pressures in ZENITHBANK (-3.20%), FBNH (-1.02%) and UBA (-4.35%) outweighed buying interest in telco giant, MTNN(+1.82%). Consequently, the year-to-date (YTD) fell to 30.18%, while the market capitalization shed N73.85 billion to close at N55.06 trillion.
Analysis of today’s market activity showed that trade turnover settled 22.87% higher than the previous session, with 355.55 million shares valued at N7.14 billion in 7,333 transactions. GTCO (+0.00%) led the volume and value chart with 71.87m units traded in deals worth N3.04 billion.
Market breadth closed negative at a 0.45-to-1 ratio with declining issues outnumbering the advancing ones. PZ (-10.70%) topped twenty-eight others on the laggard’s table while CUSTODIAN (+9.63%) led twelve others on the leader’s log.
Meanwhile, the local currency, the Naira stranglehold was released today as the it gained for the first time in weeks against the greenback, rising by 4.2% to N1,459.02/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
As at Tuesday the Naira was down 2.8% to N1,520.40/USD at NAFEM.
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