…Selloffs in MTNN (-9.94%), FBNH (-10.00%), and GTCO (-0.13%) outweighed gains in TRANSCORP (+2.85%), STERLINGNG (+4.55%) and HONYFLOUR
TUE, FEB 27 2024-theGBJournal| The Nigerian equities market slipped back again on Tuesday, as the All-Share Index lost 1.38% to close at 100,582.89 points.
Selloffs in MTNN (-9.94%), FBNH (-10.00%), and GTCO (-0.13%) outweighed gains in TRANSCORP (+2.85%), STERLINGNG (+4.55%) and HONYFLOUR (+2.25%) putting the market in the red.
The ASI year-to-date return fell to 34.52%, while the market capitalization shed N772.98 billion to close at N55.04 trillion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 8.96%. A total of 280.46 million shares valued at N6.12 billion were exchanged in 9,141 deals.
TRANSCORP (+2.85%) led the volume chart with 44.41 million units traded while NASCON (-7.73%) led the value chart with deals worth N893.68 million.
Market breadth closed negative at a 2.67-to-1 ratio with declining issues outnumbering the advancing ones. FBNH (-10.00%) topped twenty-three others on the laggard’s table while OMATEK (+9.86%) led eight others on the leader’s log.
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