GX ASI loses for the fourth consecutive session  

The local equities market remained bearish in today’s session as the index lost 1.47% to close at 102,095.95 points. For the second successive session, the Industrial heavyweight giant, DANGCEM (-10.00%) experienced selloffs alongside GTCO (-1.04%), and UBA (-0.15%) encountering demand in DANGSUGAR (+10.00%), ZENITHBANK (+0.43%), and OANDO (+0.38%), leaving the market in the negative terrain. Accordingly, the year-to-date (YTD) return slipped into the negative terrain losing 0.81% while the market capitalization declined by ₦930.62bn to close at ₦62.26tn.
Trade turnover settled lower relative to the previous session, with the value of transactions down by 25.99%. A total of 435.54m shares valued at ₦9.44bn were exchanged in 12,098 deals. UNIVINSURE (-10.00%) led the volume chart with 70.31m units while BUAFOODS (+0.00%) led the value chart in deals worth ₦2.52bn.
Market breadth closed negative at a 0.74-to-1 ratio with declining issues outnumbering the advancing ones. DANGCEM (-10.00%) topped thirty-seven (37) others on the laggard’s table while DANGSUGAR (+10.00%) led twenty-seven (27) others on the leader’s log.