NGX ASI losses 74bps

Nigerian equities started the week bearish, halting five consecutive sessions of gain as the benchmark index gave up 74bps to close at 98,708.90 points. The market relapse was primarily driven by losses in BUACEMENT (-10.00%), GTCO (-2.12%) and FBNH (-6.09%) encountering investors’ interest in ACCESSCORP (+2.49%), TRANSCORP (+9.95%) and FIDELITYBK (+0.70%), putting the market in the red. As a result, the ASI year-to-date (YTD) return fell to 32.01%, while the market capitalization shed ₦448.41bn to close at ₦59.81trn  
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 52.22%. A total of 353.18m shares valued at ₦4.55bn were exchanged in 9,417 deals. CHAMS (-0.50%) maintained its lead on the volume chart with 84.62m units traded, while UBA (-3.99%) continued to lead the value chart in deals worth ₦790.18m.
Market breadth closed negative at a 0.63-to-1 ratio with declining issues outnumbering the advancing ones. BUACEMENT (-10.00%) topped twenty-six (26) others on the laggard’s table while EUNISELL (+10.00%) led sixteen (16) others on the leader’s log.