NGX All-Share Index ends the week in the red down by 0.68% w/w

Extending gains for the third consecutive session, the domestic bourse ended positive, as the ASI gained  6bps to settle at at 43,968.75 points. ZENITHBANK (+0.25%), FBNH (+1.99%) and GEREGU (+6.90%) were the primary drivers of the market’s performance. However, despite gaining in four (4) of five (5) trading sessions this week, the ASI closed 0.68% lower w/w, as the market failed to recoup Tuesday’s losses.

This week, selloffs in AIRTELAFRI (-0.39% w/w), DANGCEM (-0.62% w/w) and MTNN (-2.04% w/w) kept the market in the red, eroding gains in FBNH (+3.54%), ACCESSCORP (+1.26%), GEREGU (+8.50%). As a result, the ASI’s year-to-date (YTD) return fell to 2.93%, while the market capitalisation lost ₦161.54bn w/w to close at ₦23.95tn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 30.05%. A total of 209.71m shares valued at ₦2.17bn were exchanged in 2,942 deals. ACCESSCORP (+0.00%) led the volume and value charts with 81.34m units traded in deals worth ₦654.72m.

Market breadth closed positive at a 2.17-to-1 ratio with advancing issues outnumbering declining ones. CORNERST (+10.00%) topped twelve (12) others on the gainer’s table, while FLOURMILL (-9.90%) led five (5) others on the laggard’s log.

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