The Nigerian Stock Exchange capitalisaion stood at N35.79 trillion yesterday after losing N49.80 billion to selloffs of major stocks.
The stock market bourse ended its four-day winning streak as the benchmark index shed 0.14% to close at 65,401.82 points.
Selloffs in telco heavyweight, MTNN saw the stock exchange shading 0.18%. ZENITHBANK also dropped by 1.20%, and ACCESSCORP 3.27%). These underpinned the market’s weak performance despite gains in GTCO (+0.56%), NB (+1.88%) and DANGSUGAR (+10.00%).
Accordingly, the market is on track for a week of gain. As a result, the year-to-date (YTD) return fell to 27.61%, while market capitalization lost ₦49.80bn to close at ₦35.79trn.
Analysis of Thursday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 218.74%. A total of 583.09 million shares valued at ₦12.90 billion were exchanged in 6,968 deals. TRANSCORP (+10.00%) led the volume chart with 144.49 million units traded while MTNN (-0.18%) led the value chart in deals worth ₦6.16 billion.
Market breadth closed negative at a 2.42-to-1 ratio with declining issues outnumbering advancing ones.
FTNCOCOA (-9.95%) led 28 others on the laggard’s log while DANGSUGAR (+10.00%) topped 11
others on the leader’s table.
