BY BAMIDELE FAMOOFO
Today, the domestic bourse slipped as the benchmark index lost dropped by 2bps to close at 46,766.16 points. Selloffs in Tier-1 banks, GTCO (-1.12%) and ZENITHBANK (-0.44%) were the primary drivers of the market’s weak performance offsetting gains in UBA (+1.97%) and SEPLAT (+1.05%). As a result, the year-to-date (YTD) return fell to 9.48 percent, as market capitalization shed N6.04bn to close at N25.21trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 3.91 percent. A total of 261.60m shares valued at N2.43bn were exchanged in 4,668 deals. FIDELITYBK (+0.87%), for the second consecutive session, led the volume chart with 81.75m units traded, while MTNN (+0.00%) led the value chart in deals worth N380.26m.
Market breadth closed negative at a 1.13-to-1 ratio with declining issues outnumbering advancing ones. NPFMCRFBK (-9.78%), for the second consecutive session, led seventeen (17) others on the laggard’s table, while REGALINS (+10.00%) topped fifteen (15) others on the gainer’s log.
