Nigerian stock market analysis: indices slips down by 12bps
Nigerian stock market analysis today. The Lagos stock exchange experienced a further decline, with the benchmark Index decreasing by 12 basis points to finish at 95,718.05 points. The primary contributors to the market’s lackluster performance were selloffs in ZENITHBANK (-0.26%), TRANSCOHOT (-10.00%), and FBNH (-1.72%), which overshadowed the gains made by GTCO (+0.11%), UBA (+1.36%), and TRANSCORP (+8.49%). As a result, the market is poised for another weekly downturn. The year-to-date (YTD) return has decreased to 28.01%, and the market capitalization has diminished by ₦64.98 billion, closing at ₦54.98 trillion.
A detailed analysis of today’s market activities indicated that trade turnover was lower compared to the previous session, with transaction values declining by 19.28%. A total of 393.62 million shares, valued at ₦5.85 billion, were traded across 8,243 transactions. UNIVINSURE (-3.03%) led in volume with 68.19 million units exchanged, while OANDO (+9.99%) topped the value chart with deals amounting to ₦1.29 billion.
The market breadth concluded positively, with a ratio of 1.18-to-1, as advancing stocks outnumbered those that declined. ACADEMY (+10.00%) was at the forefront, leading nineteen other stocks, while TRANSCOHOT (-10.00%) was at the bottom, leading sixteen others in the laggard category.
