NGX market capitalisation drops N171 billion
The stock market capitalisation shed N171 billion or 0.31 per cent, closing at N55.545 trillion from an opening of N55.716 trillion.
The All-Share Index also fell by 0.31 per cent or 302 points to close at 97,830.65, down from 98,132.15 recorded on Monday.
As a result, the year-to-date return decreased to 30.84 per cent.
The market’s weakness was primarily driven by selling pressures in stocks like Zenith Bank, Guaranty Trust Holding Company, Access Corporation, FBN Holdings, Dangote Sugar and Transnational Corporation, among others.
Market breadth closed negative, with 31 losers and 19 gainers on the floor of the exchange.
On the losers’ chart, United Capital led 30 other declined equities by 9.92 per cent to close at N34.05 per share, while ABC Transport led 18 other advanced equities by 10 per cent to close at 77k per share.
On a breakdown of market activities, trade turnover settled lower relative to the previous session, with the value of transactions down by 8.11 per cent.
A total of 399.39 million shares valued at N8 billion were exchanged in 10.447 deals, compared to 379.13 million shares valued at N8.71 billion exchanged in 10.096 deals posted in the previous session.
Meanwhile, Zenith Bank led the volume and value chart with 44.24 million shares valued at N1.51 billion.
(NAN)
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