NGX All-Share Index recorded worst weekly performance since 2020 during the week

In the last trading session of the week, the NGX All-Share Index settled  0.15% higher at 44,396.73 points. Gains in BUACEMENT (+1.64%), GTCO (+0.27%) and WAPCO (+1.39%) offset the continued selloffs in ZENITHBANK (-0.74%) and ACCESSCORP (-1.23%). Nonetheless, having lost in three (3) of five (5) trading sessions this week, the ASI closed 6.67% lower w/w – the most since 13 March 2020.

Over the course of the week, AIRTELAFRI (-27.10% w/w), MTNN (-2.01% w/w) and WAPCO (-6.60% w/w) were the primary drivers of the broader index’s weak performance. As a result, the ASI year-to-date (YTD) return fell to 3.93%, while the market capitalization lost ₦1.73tn w/w to close at ₦24.18tn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 41.14%. A total of 95.18m units of shares valued at ₦1.88bn were exchanged in 2,888 deals. FIDELITYBK (+0.80%) led the volume chart with 26.59m units traded while AIRTELAFRI (+0.00) led the value chart in deals worth ₦978.83m

Market breadth closed positive at a 1.23-to-1 ratio, with advancing issues outnumbering declining ones. ACADEMY (+9.77%) led fifteen (15) others on the leader’s table, while NEM (-9.98%) topped twelve (12) others on the laggard’s log.

Leave a Reply

Send in Your Business News to BusinessTrumpet News!