NGX All-Share Index loses 2.52% to settle at 46,368.65 points on Monday

Nigerian equities opened the week sharply lower, eroding prior week gains as the All-Share Index lost 2.52% to settle at 46,368.65 points – the lowest point since 28 January. The market’s weak performance was driven by selloffs in telco heavyweight, AIRTELAFRI (-10.00%). As a result, the year-to-date (YTD) return fell to 8.55%, with the market capitalisation shedding ₦652.83bn to close at ₦25.25trn.

Analysis of today’s market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 1.04%. A total of 137.98m units of shares valued at ₦4.32bn were exchanged in 3,234 deals. GTCO (+1.12%) led the volume chart with 33.72m units traded while AIRTELAFRI (-10.00%) led the value chart in deals worth ₦1.74bn.

Market breadth closed positive at a 2.8-to-1 ratio, with advancing ones outnumbering declining ones. PZ (+9.52%) led thirteen (13) others on the gainer’s table, while AIRTELAFRI (-10.00%) topped four (4) others on the laggard’s log.