NGX All-Share Index closes negative, down 0.42% w/w

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Bullish sentiments dominated the market in the last trading session on Friday as the All-Share Index gained 0.25 percent to close at 104,647.37 points.

Gains in Tier-1 banks namely, GTCO (+3.28%), ZENITHBANK (+1.27%) and FBNH (+2.25%) outweighed losses in NB (-3.45%), NASCON (-0.85%), and STERLINGNG (-0.58%) keeping the market in the positive terrain.

Accordingly, having lost in three (3) of five (5) trading sessions this week, the ASI closed 0.42 percent lower week on week.

Over the course of the week, losses in MTNN (-12.25% w/w) and DANGSUGAR (-3.67% w/w), and TRANSCORP (-0.32% w/w), outweighed buy interests in FBNH (+4.46% w/w), UBA (+11.11% w/w) , and ACCESSCORP (+4.35% w/w) driving the market’s negative performance.

Consequently, the year-to-date (YTD) return on the index slipped to 39.95 percent while the market capitalization lost N.57 trillion w/w to close at N59.17 trillion.

Analysis of Friday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions dup by 53.32 percent.

A total of 505.19 million shares valued at N14.24 billion were exchanged in 9,574 deals.

ACCESSCORP (+1.69%) led the volume chart with 75.78 million units traded while GTCO (+3.28%) led the value chart in deals worth N3.12 billion.

Market breadth closed positive at a 2.21-to-1 ratio with advancing issues outnumbering the declining ones.

NSLTECH (+10.00%) topped thirty (30) others on the leader’s table while PZ (-10.00%) led thirteen (13) others on the laggard’s log.