Home » All-Share Index ends winning streak, as NGX loses N50bn

All-Share Index ends winning streak, as NGX loses N50bn

by Samson Echenim

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.


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