ASI relapses by 57bps, market capitalization lost  ₦337.13bn

Today, the Lagos bourse reversed gains from the previous session as the benchmark index shed 57bps to close at 96,567.24 points. The market relapse was primarily driven by Selloffs in Tier-1 banking tickers GTCO (-1.91%), ZENITHBANK (-0.81%), and UBA (-9.99%) outweighing gains in FBNH (+1.65%), ACCESSCORP (+2.12%), and WAPCO (+0.66%), putting the market in the red. Consequently, the year-to-date (YTD) return fell to 29.15%, while the market capitalization lost  ₦337.13bn to close at ₦58.51tn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 60.73%. A total of 418.39m shares valued at ₦10.04bn were exchanged in 9,021 deals. STERLINGNG (+2.63%) led the volume chart  with 79.65m units traded, while UBA (-9.99%) led the value chart  in deals worth ₦2.57bn.
Market breadth closed negative at a 0.95-to-1 ratio with declining issues outnumbering the advancing ones. UBA (-9.99%) topped twenty (20) others on the laggard’s table while EUNISELL (+9.87%) led nineteen (19) others on the leader’s log.