Market cap sheds N7.51bn as index drops 0.02%

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BY BAMIDELE FAMOOFO

Opening the week, the Lagos bourse ended mixed with a bearish tilt as the benchmark Index shed 0.02 percent to settle at 55,806.71 points.

Gains in ACCESSCORP (+1.21%), UBA (+1.07%) and UBN (+9.72%) were offset by losses in ZENITHBANK (-2.27%), GEREGU (-0.61%) and GTCO (-0.88%).

Consequently, the ASI’s year-to-date (YTD) return fell to 8.89 percent, while the market capitalization shed ₦7.51bn to close at ₦30.39trn.

Analysis of Monday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 224.33 percent.

A total of 369.78m shares valued at ₦19.84bn were exchanged in 7,221 deals. GEREGU (-0.61%) led volume and value charts with 52.49m units traded in deals worth ₦16.37bn.

Market breadth closed flat. NEM (+10.00%) topped 21 others on the leader’s table while COURTVILLE (-9.80%) led 21 others on the leader’s log.