Business and Economy

NGX All-Share Index declines 0.30% to close at 43,837.89 points on Monday

Nigerian equities opened the week on a negative note, as the All-Share Index declined by 0.30% to close at 43,837.89 points. Selloffs in MTNN (-2.40%) offset gains in  GTCO (+0.85%), FBNH (+2.44%) and ACCESSCORP (+1.24%) to drive the market’s weak performance. As a result, the year-to-date (YTD) return fell to 2.63%, and the market capitalisation shed ₦71.85bn to close at ₦23.88trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 17.05%. A total of 187.09m shares valued at ₦2.54bn were exchanged in 3,324 deals. ACCESSCORP (+1.24%) led the volume chart with 87.92m units traded while MTNN (-2.40%) led the value chart in deals worth ₦764.37m.

Market breadth closed positive at a 1.33-to-1 ratio with advancing issues outnumbering declining ones. FTNCOCOA (+9.68%) topped eleven (11) others on the gainer’s table, while UNITYBNK (-5.26%) led eight (8) others on the laggard’s log.

Leave a Reply