NGX All-Share Index slips by 0.83% on first trading day in August



Uba Group

Nigerian equities opened the week on a weak note, reversing most of the prior session gains as the All-Share Index lost 0.83 percent to close at 49,950.32 points.

The drag on the market’s performance was borne from selloffs in index heavyweight, BUACEMENT (-9.96%).

Consequently, the year-to-date (YTD) return fell to 16.93 percent, while market capitalization lost N226.45bn to close at N26.94trn.

Analysis of Monday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions reducing by 19.21%.

A total of 176.05m units of shares valued at N2.27bn were exchanged in 4,965 deals. GTCO (-0.76%) led the volume chart with 21.37m units while ZENITHBANK (+1.45%) led the value chart in deals worth N429.28bn.

Market breadth closed positive at a 1.62-to-1 ratio with advancing issues outnumbering declining ones. CAVERTON (+10.00%) led twenty (20) others on the leader’s log while BUACEMENT (-9.96%) topped twelve (12) others on the laggard’s table.