NGX All-Share Index slips, down 7bps

Today, the local bourse pulled back slightly after yesterday’s rally, bringing the benchmark Index down by 7bps to close at 95,831.51 points. Tier-1 banks, GTCO (-0.66%), FBNH (-1.21%) and UBA (-1.79%) were the major drivers of the market’s weak performance, despite gains in TRANSCOHOT (+2.09%), ACCESSCORP (+0.26%) and WAPCO (+1.08%). Consequently, the year-to-date (YTD) return fell to 28.16%, with the market capitalisation  gaining  ₦599.43bn to close at ₦55.05trn.

A breakdown of the analysis of today’s market activities showed trade turnover settled lower relative to the previous session. While the value of transactions lost 5.66%, a total of 360.56m shares (down from 1.01bn in the previous session) valued at ₦7.25bn were exchanged in 8,813 deals. OANDO (-8.66%) led the volume and value charts with 66.23m units traded in deals worth ₦2.69bn.

Market breadth closed positive at a 1.39-to-1 ratio with advancing issues outnumbering the declining ones. IKEJAHOTEL (+10.00%) topped twenty-four (24) others on the leader’s table while UPL (-9.40%) led seventeen (17) others on the laggard’s log.