BY BAMIDELE FAMOOFO
Closing the week, Nigerian equities ended mixed with a bearish tilt as the All-Share index shed 0.01 percent to close at 51,557.41 points. Selloffs in ACCESSCORP (-2.73%) and WAPCO (-0.76%) offset demand for ZENITHBANK (+0.69%) and UBA (+1.34%), bringing the market down slightly. Consequently, having lost in four (4) of five (5) trading sessions this week, the ASI closed 0.53% lower week on week (w/w), offsetting gains of the past week.
Over the course of the week, BUAFOODS (-5.45% w/w), FBNH (-8.62% w/w), NB (-5.02% w/w) and INTBREW (-14.29% w/w) were the primary drivers of the weak performance of the broader index. As a result, the ASI year-to-date (YTD) return reduced to 20.70%, while the market capitalization lost N138.67bn w/w to close at N27.80tn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 1.29 percent. A total of 115.13m shares valued at N1.78bn were exchanged in 3,479 deals. GTCO (+0.00%) led the volume chart with 17.86m units while AIRTELAFRI (+0.00%) led the value chart in deals worth N528.22m.
Market breadth closed positive at a 1.08-to-1 ratio with advancing issues outnumbering advancing ones. CAVERTON (+9.91%) led twelve (12) others on the leader’s log while NAHCO (-7.31%) topped eleven (11) others on the laggard’s table.
