Business and Economy

NGX All-Share Index slips down 7bps on Wednesday Trading Activities

Today, the domestic bourse slipped as the benchmark index closed 0.07% weaker at 47,531.84 points. Gains in ZENITHBANK (+0.26%) were offset by selloffs in GTCO (-0.59%), FBNH (-2.11%), ACCESSCORP (-0.64%) and UBA (-1.43%) keeping the market in the negative terrain. As a result, the year-to-date (YTD) return fell to 11.27%, while  market capitalisation shed by ₦18.13bn to close at ₦25.89trn.

Analysis of today’s market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions increasing by 92.22%. A total of 155.18m units of shares valued at ₦3.66bn were exchanged in 3,797 deals. MBENEFIT (+0.00%) led the volume chart with 41.92m units traded while DANGCEM (+0.00%) led the value chart in deals worth ₦2.06bn.

Market breadth closed negative at a 1.89-to-1 ratio, with declining issues outnumbering advancing ones. HONYFLOUR (-9.77%) led sixteen (16) others on the laggard’s table, while REDSTAREX (+8.49%) topped eight (8) others on the gainer’s log

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