Business and Economy

NGX All-Share Index slips by 2bps to close at 47,524.38 points on Thursday

Activity on the Lagos bourse was mixed albeit with a bearish tilt as the benchmark index closed marginally lower by 0.02% to close at 47,524.38 points – the lowest point since 7 October. Selloffs in GEREGU (-9.02%) offset the investors interest in ZENITHBANK (+0.51%), GTCO (+0.59%), FBNH (+2.15%) and UBA (+1.45%). Despite the loss, the market remains on track for it’s first weekly gain in five (5) weeks.  As a result, the ASI’s year-to-date (YTD) return fell to 11.26%, while the market capitalisation lost ₦5.18bn to close at ₦25.88trn.

Analysis of today’s market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 42.83%. A total of 86.55m units of shares valued at ₦2.09bn were exchanged in 3,264 deals. GTCO (+0.59%) led the volume chart with 19.15m units traded while AIRTELAFRI (+0.00%) led the value chart in deals worth ₦923.22m.

Market breadth closed positive at a 1.2-to-1 ratio, with advancing ones outnumbering declining ones. HONYFLOUR (+9.79%) led eleven (11) others on the gainer’s table, while UACN (-9.76%) topped nine (9) others on the laggard’s log.

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