Nigerian equities extended losses to open the week as the All-Share Index closed 1.10% weaker to settle at 64,337.52. Sustained selloffs in telco heavyweight MTNN (-3.68%) and Tier-1 banks, ZENITHBANK (-0.29%) and GTCO (-1.08%) were the primary drivers of the market decline. As a result, the ASI’s year-to-date (YTD) return fell to 25.53%, while the market capitalization lost ₦591.20bn to close at ₦35.01trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 11.12%. A total of 673.42m shares valued at ₦6.47bn were exchanged in 9,788 deals. FIDELITYBK (+1.18%) led the volume chart with 58.59m units traded while MTNN (-3.68%) led the value chart in deals worth ₦1.01bn
Market breadth closed negative at a 3.08-to-1 ratio with declining issues outnumbering advancing ones. DANGSUGAR (-10.00%) topped thirty-six (36) others on the laggard’s log, while MANSARD (+10.00%) led eleven (11) others on the leader’s table.
Find below key highlights of market activities.