Equities market suffers N35bn loss
The NGX All-Share Index yesterday dropped below the 100,000 mark for the second time this week, ending at 99,845.91 points. Daily Trust reports that the local bourse has witnessed a continued streak of losses in recent times and yesterday represented the tenth day of decline this April with the bearish sentiment attributed to the downturn […]
The NGX All-Share Index yesterday dropped below the 100,000 mark for the second time this week, ending at 99,845.91 points.
Daily Trust reports that the local bourse has witnessed a continued streak of losses in recent times and yesterday represented the tenth day of decline this April with the bearish sentiment attributed to the downturn in the significant financial firms of the SWOOT sector.
The market however posted its fifth consecutive weekly loss yesterday.
The year-to-date (YTD) return slipped to 33.53%, while the market capitalisation declined by N35.49bn to close at N56.47trn.
- ‘Banks lost N10bn to cyber fraud in 2023’
- Number of illegal weapons in Nigeria very alarming – Army GOC
Further analysis of the market showed trade turnover settled lower relative to the previous session, with the value of transactions down 4.77%.
A total of 285.91m shares valued at N5.54bn were exchanged in 7,726 deals. ACCESSCORP (-0.86%) led the volume chart with 43.98m units traded while GTCO (-3.92%) led the value charts in deals worth N1.14bn.
Market breadth closed negative at a 0.94-to-1 ratio with declining issues outnumbering the advancing ones. UCAP (-9.73%) topped sixteen (16) others on the laggard’s table.