The bears continued to dominate the Lagos bourse as the benchmark index gave up 0.21% to close at 43,745.73 points, its lowest point since 6 January. Sell pressures in BUAFOODS (-4.80%), SEPLAT (-8.33%) and STANBIC (-2.61%) were the primary drivers of the drag on the overall market’s performance. Consequently, the year-to-date (YTD) return dipped to 2.41%, while the market capitalization shed ₦50.15bn to close at ₦23.83trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 15.68%. A total of 172.87m shares valued at ₦4.01bn were exchanged in 4,110 deals. ACCESSCORP (+1.28%) led the volume chart with 24.68m units traded while SEPLAT (-8.33%) led the value chart in deals worth ₦2.53bn.
Market breadth closed negative at a 1.29-to-1 ratio with declining issues outnumbering advancing ones. JBERGER (-9.46%) topped seventeen (17) others on the laggard’s table, while NAHCO (+9.35%) led thirteen (13) others on the leader’s log.