Sell-offs in Dangote Cement, Zenith Bank, Geregu drag All Share down by 0.16%

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BY BAMIDELE FAMOOFO

Uba Group

THE All Share Index of the Nigerian Exchange Limited slipped today as the benchmark index lost 0.16 percent to close at 52,615.51 points.

Increased demand in Airtel Africa Plc (+0.63%) and GTCO (+1.03%) were offset by selloffs in Dangote Cement Plc (-1.85%),  Zenith Bank Plc(-0.20%) and Geregu Power Plc (-0.14%) resulting  to the market’s weak performance.

As a result, the year-to-date (YTD) return fell to 2.66 percent , as market capitalization shed N46.74 billion to close at N8.66 trillon.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session with the value of transactions up by 0.63 percent. A total of 217.95million units of shares valued at N4.47 billion were exchanged in 3,377 deals.
For the second consecutive session, Sterling Bank Plc (-1.30%) led the volume chart with 94.27 million units traded while GEREGU (-0.14%) led the value chart in deals worth N1.35 billion.

Market breadth closed negative at a 1.38-to-1 ratio with declining issues outnumbering advancing ones. FTNCOCOA (-6.67%) led seventeen (17) others on the laggard’s table while LINKASSURE (+9.09%) topped twelve (12) others on the gainer’s log