BY BAMIDELE FAMOOFO
Today, the Lagos bourse extended losses as the bears had their way for the second consecutive session, bringing the benchmark index down 0.23 percent to close at 52,186.52 points, the lowest point since 14 July.
Selloffs in NB (-6.13%), GTCO (-2.56%) and INTBREW (-4.39%) drove the overall market’s weak performance.
Consequently, the year-to-date (YTD) return fell to 22.17 percent, while the market capitalization shed N65.98bn to close at N28.14trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 18.72 percent. A total of 233.15m units of shares valued at N3.31bn were exchanged in 3,729 deals. NB (-6.13%), led the volume and value charts with 30.38m units traded in deals worth N1.51bn.
Market breadth closed negative at a 2.44-to-1 ratio with declining issues outnumbering advancing ones. NAHCO (-10.00%) led twenty-one (21) others on the laggard’s table, while MULTIVERSE (+9.88%) topped eight (8) others on the gainer’s log.
