September 17, (THEWILL) – In the last trading session of the week, the domestic bourse recovered as the All-Share Index gained 0.09% to settle at 67,395.74 points. Gains in MTN Nigeria , Zenith Bank and Stanbic Bank pushed the broader index into positive terrain. Nonetheless, having lost in three of five trading sessions last week, the ASI closed 1.10% lower w/w.
Selloffs in MTN Nigeria, Nestle Nigeria and Zenith Bank were the major drags on the overall market, negating upticks in Stanbic and UBA . As a result, the year-to-date (YTD) return fell to 31.50%, while the market capitalization shed N409.17bn w/w to close at N36.89trn.
Analysis of Friday;s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 63.07%. A total of 408.87m shares valued at N5.23bn were exchanged in 6,972 deals. Sterling led the volume chart with 82.28m units traded while GTCO led the value charts in deals worth N926.85m.
Market breadth closed positive at a 1.75-to-1 ratio with advancing issues outnumbering declining ones. Chams led twenty (20) others on the leader’s log while Conoil topped eleven others on the laggard’s table.
