Business and Economy

NGX All-Share Index dips by 0.47% Thursday

Activity on the local bourse was bearish as the benchmark index fell by 0.47% to settle at 49,190.34 points — the lowest level since 24 August — putting the index on track for a third successive weekly loss. The decline in market heavyweight, BUACEMENT (-6.18%), was the major driver of the market’s weak performance. Consequently, the ASI’s year-to-date (YTD) return decreased to 15.16%, while the market capitalisation contracted by ₦124.94bn to close at ₦26.53trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 202.00%. A total of 126.84m shares valued at ₦1.78bn were exchanged in 3,117 deals. NGXGROUP (-2.96%) led the volume and value charts with 30.75m units traded in deals worth ₦553.54m.

Market breadth closed negative at a 1.3-to-1 ratio with declining issues outnumbering advancing ones. CORNERST (-10.00%) topped twelve (12) others on the laggard’s table, while TRANSEXPR(+8.70%) led nine (9) others on the leader’s log. Find below key highlights of market activities.

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