TUE. 21 FEB, 2023-theGBJournal| The Nigerian equities market was broadly bearish Tuesday as investors weighed corporate earnings and the potential outcome of the general election this weekend- February 25th.
The benchmark index, the NGX All-Share Index closed 0.06% lower to settle at 54,189.31 points, with sectors a mixed bag.
Banking stocks fell, with losses in GTCO (-0.40%), FBNH (-0.43%) and ACCESSCORP (-1.63%), the major drivers of the market’s overall dull performance.
Consequently, the year-to-date (YTD) return fell to 5.73%, while the market capitalization shed N19.09bn to close at N29.52trn.
Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 182.93%.
A total of 254.17m shares valued at N15.58bn were exchanged in 2,950 deals. GEREGU (+0.00%) led the volume and value charts with 125.01m units traded in deals worth N12.50bn.
Market breadth closed negative at a 2.17-to-1 ratio with declining issues outnumbering advancing ones. LINKASSURE (-4.44%) topped twelve others on the laggard’s log while AIICO (+1.69%) led five others on the leader’s table.
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