NGX All-Share Index tumbles down 1.58% on August 23
|Extending its losing streak for the fifth successive session, the domestic bourse ended lower as the benchmark Index tumbled by 1.58% – the biggest single-day loss in two weeks – to settle at 48,567.14 points, the lowest point since 25 April. Bearish sentiment in index heavyweights, BUAFOODS (-9.92%), DANGCEM (-5.33%), BUACEMENT (-4.64%), SEPLAT (-8.44%) and GTCO (-0.25%) drove the market’s weak performance. Consequently, the year-to-date (YTD) return fell to 13.70%, with market capitalisation losing ₦420.32bn to close at ₦26.20trn.|
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 144.64%. A total of 204.15m shares valued at ₦3.18bn were exchanged in 3,533 deals. ZENITHBANK (+0.00%) led the volume chart with 25.20m units traded, while DANGCEM (-5.33%) led the value chart in deals worth ₦665.74m..
Market breadth closed negative at a 2.50-to-1 ratio, with declining issues outnumbering advancing ones. BUAFOODS (-9.92%) topped nineteen (19) others on the laggard’s log, while NEM(+10.00%) led seven (7) others on the leader’s table. Find below key highlights of market activities.