NGX All-Share Index, market capitalisation decline

The Nigerian equities market closed in the red, with the NGX All-Share Index (ASI) and market capitalisation declining by 0.32% to close at 245,116.49 points and N159.15tn, respectively.

Consequently, the year-to-date (YTD) return fell to 57.52%, from 58.03% in the previous session. The negative sentiment was driven by losses in FIRSTHOLDCO (-4.59%), ZENITHBANK (-1.21%) and UBA (-0.24%), which outweighed gains in OANDO (+4.50%), STANBIC (+0.25%) and DANGSUGAR (+0.37%).

Market activity was mixed, as total volume traded advanced by 1.54% to 354.13mn units, while total value traded fell by 8.79% to N23.60bn. The number of deals also declined by 0.17% to 32,585.

ZENITHBANK (-1.21%) led both the volume and value charts, with 48.21mn units traded, worth N5.90bn. Market breadth was negative at 0.45x, reflecting eighteen (18) advancers against forty (40) decliners. ABCTRANS (+9.77%) led the gainers, while CWG (-9.98%) led the decliners’ chart.

Oil prices rose sharply after comments from Iran reduced expectations of near-term diplomatic progress with the US, keeping concerns over  The rally was also supported by continued security risks to regional energy flows. Kpler said at least 18 vessels had been attacked over the past