Investors splash N1.57bn on Access Corp shares as ASI drops 0.2%



Uba Group

Access Corporation Plc emerged investors’ toast on Tuesday as N1.57 billion was splashed on its shares, making it the most sought after stock of the day.

Data from the Nigerian Exchange Limited showed that the value of the shares of Access Corp moved up by 2.46 percent as 150.07 million unit shares of the financial group were crossed by investors.

Analysis of Tuesday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 60.59 percent, with a total of 550.29 million shares valued at N5.15 billion exchanged in 6,250 deals.

Opening the week, the NGX All-Share Index relapsed by 0.20 percent to close at 52,296.48 points – halting seven days of successive rally on the local bourse.

Selloffs in WAPCO (-1.66%), GEREGU (-10.00%) and ETI (-0.90%) offset demand for MTNN (+0.57%), ZENITHBANK (+3.07%), and GTCO (+3.17%), driving the weak performance.

Consequently, the ASI’s year-to-date (YTD) return decreased to 2.04 percent, while the market capitalization lost N58.28 billion to close at N28.48 trillion.

Market breadth closed positive at a 1.39-to-1 ratio with advancing issues outnumbering declining ones. CONOIL (+10.00%) topped twenty-four (24) others on the leader’s log while GEREGU (-10.00%) topped seventeen (17) others on the laggard’s table.