BY BAMIDELE FAMOOFO
Nigerian equities extended losses for the second consecutive session as the All-Share Index closed 0.29 percent weaker to close at 49,546.38 points, the lowest point since 09 August. On-the-whole, the index remains on track for its second consecutive weekly loss in the month.
On market movers, the weak performance was driven by selloffs in market heavyweights, BUACEMENT (-1.37%) and MTNN (-0.50%). In addition, ACCESSCORP (-1.76%) and OKOMUOIL (-9.96%) contributed to keep the broader index in the red. Consequently, the year-to-date (YTD) return fell to 15.99%, with the market capitalization down by N78.10bn to close at N26.72trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 35.75 percent. A total of 146.99m shares valued at N2.65bn were exchanged in 3,180 deals. FBNH (+0.00%) led the volume chart with 38.97m units traded, while MTNN (-0.50%) led the value chart in deals worth N558.61m.
