Local bourse dips further, down 21bps

For the third consecutive session, the local bourse continued its descent, shedding 21bps to settle at 100,156.96 points. Further sell-offs in GTCO (-0.56%), FBNH (-2.79%), and UBA (-2.78%) drove the market relapse leaving the index on track for a weekly loss. Accordingly, the year-to-date (YTD) return slipped to 33.95%, while the market capitalisation fell by ₦117.90bn to close at ₦56.71trn.

 Trade turnover settled higher relative to the previous session, with the value of transactions up by 12.43%. A total of 1.34bn units valued at ₦9.67bn were exchanged in 8,198 deals. FIDELITYBK (-0.93%) led the volume chart with 53.42m units traded while ZENITHBANK (-2.57%) led the value chart again with deals worth ₦40.59m.

Market breadth closed negative at a 0.50-to-1 ratio with declining issues outnumbering advancing ones. OMATEK (-10.00%) led twenty-three (23) others on the laggard’s table while CUSTODIAN (+8.51%) topped eleven (11) others on the gainer’s table.

Dividend Information for 2024

Find below key highlights of market activities