June 07, (THEWILL) – The bullish trend that drove the market in the previous tradings lost steam today with investors losing N8 billion at the end of the day’s trading.
Today, the bears dominated the domestic bourse as the NGX All-Share Index (ASI) slipped by 0.02% to settle at 56,025.56 points.
The market’s weak performance was primarily driven by selloffs in AIRTELAFRI (-0.17%) alongside ZENITHBANK (-0.18%) and GTCO (-0.18%). Consequently, the ASI’s year-to-date (YTD) return fell to 9.32% while the market capitalization lost ₦7.24bn to close at ₦30.51trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 12.24%.
A total of 397.62m shares valued at ₦6.54bn were exchanged in 5,613 deals. GTCO (-0.18%) led the volume chart with 43.03m units traded, while AIRTELAFRI (-0.17%) led the value chart in deals worth ₦2.71bn.
Market breadth closed positive at a 2.27-to-1 ratio with advancing issues outnumbering declining ones. HONYFLOUR (+9.87%), topped twenty-four (24) others on the leader’s table, while UBN (-8.86%) led ten (10) others on the laggard’s log.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
