NGX All-Share Index dips further by 2.16%, prints lowest figure in 10 months



Uba Group

The domestic bourse extended losses from the previous session on Tuesday, bringing the All-Share Index down by 2.16% to close at 45,366.32 points, the lowest since 18 January.

The extended rout in the market was primarily driven by continued selloffs in telco heavyweight, AIRTELAFRI (-10.00%).

Consequently, the year-to-date (YTD) return fell to 6.20 percent, with the market capitalization shedding ₦545.46bn to close at ₦24.71trn.

Analysis of Tuesday’s market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 16.03 percent.

A total of 420.28m units of shares valued at N3.62bn were exchanged in 3,486 deals. GTCO (+2.49%) led the volume chart with 57.41m units traded while AIRTELAFRI (-10.00%) led the value chart in deals worth N1.35bn.

Market breadth closed positive at a 1.3-to-1 ratio, with advancing ones outnumbering declining ones. UCAP (+9.69%) led seventeen (17) others on the gainer’s table, while AIRTELAFRI (-10.00%) topped thirteen (13) others on the laggard’s log.