Business and Economy

NGX All-Share Index opens the week down 0.11% – Coronation Securities Limited

Opening the week, Nigerian equities reversed the three-day winning streak as the All-Share Index closed 0.11% weaker to close at 49,991.41 points. Tier-1 banking names, ZENITHBANK (-2.33%) , STANBIC (-3.03%), UBA (-1.38%) alongside WAPCO (-4.20%) drove the market’s weak performance. As a result, the ASI’s year-to-date (YTD) return fell to 17.03%, while the market capitalization lost ₦29.12bn to close at ₦26.96trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 44.55%. A total of 200.92m shares valued at ₦1.45bn were exchanged in 3,976 deals. STERLNBANK (-2.01%) led the volume charts with 90.9m units traded while MTNN (+0.00%) led the value charts in deals worth ₦252.47m.

Market breadth closed negative at a 1.33-to-1 ratio with declining issues outnumbering advancing ones. ABCTRANS (-9.68%) topped fifteen (15) others on the laggard’s table, while CHAMS (+7.69%) led eleven (11) others on the leader’s log . Find below key highlights of market activities.

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