Today, the Lagos bourse reversed gains from the previous session as the benchmark index shed 57bps to close at 96,567.24 points. The market relapse was primarily driven by Selloffs in Tier-1 banking tickers GTCO (-1.91%), ZENITHBANK (-0.81%), and UBA (-9.99%) outweighing gains in FBNH (+1.65%), ACCESSCORP (+2.12%), and WAPCO (+0.66%), putting the market in the red. Consequently, the year-to-date (YTD) return fell to 29.15%, while the market capitalization lost ₦337.13bn to close at ₦58.51tn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 60.73%. A total of 418.39m shares valued at ₦10.04bn were exchanged in 9,021 deals. STERLINGNG (+2.63%) led the volume chart with 79.65m units traded, while UBA (-9.99%) led the value chart in deals worth ₦2.57bn.
Market breadth closed negative at a 0.95-to-1 ratio with declining issues outnumbering the advancing ones. UBA (-9.99%) topped twenty (20) others on the laggard’s table while EUNISELL (+9.87%) led nineteen (19) others on the leader’s log.
ASI relapses by 57bps, market capitalization lost ₦337.13bn
