NGX All-Share Index declines by 2.03%

The bears continued to dominate the local equities market as the NGX All-Share Index succumbed to a second successive loss, falling by 2.03% to 62,748.94 points. Specifically, selloffs in MTNN (-4.64%), ZENITHBANK (-2.04%), and GTCO (-5.56%) dragged the overall market offsetting gains in BUACEMENT (+2.01%), GEREGU (+3.33%), and DANGSUGAR (+9.94%). Accordingly, the market is on track for the first week of loss in this quarter.  As a result, the year-to-date (YTD) return slipped to 22.43%, while the market capitalisation contracted by ₦706.77bn to close at ₦34.17trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 17.69%. A total of 798.47m shares valued at ₦10.45bn were exchanged in 10,296 deals. UBA (-8.45%) led the volume charts with  99.02m units while GTCO (-5.56%) led the value chart in deals worth ₦1.77bn.

Market breadth closed negative at a 5.75 to-1 ratio with declining issues outnumbering advancing ones. STANBIC (-10.00%) topped forty-five (45) others on the laggard’s table, while DANGSUGAR (+9.94%) led seven (7) others on the leader’s log.

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation