All-Share Index Extends Losses, Down 21bps

In yesterday’s trading session, the local bourse extended losses as the benchmark index gave up 21bps to close at 98,081.38 points.

Profit taking in ARADEL (-10.00%), GTCO (-3.85%) and OANDO (-5.82%) offset gains in TRANSPOWER (+9.68%), ZENITHBANK (+0.13%), and TRANSCOHOT (+7.78%), putting the index on track for another weekly gain.

Accordingly, the ASI year-to-date return slipped to 31.17 per cent, while the market capitalisation shed N127.34 billion to close at N59.43 trillion.

Analysis of the day’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down 28.74 per cent.

A total of 239.31 million shares valued at N6.41 billion were exchanged in 7,318 deals. S T E R L I N G N G (+0.00%) led the volume chart with 42.79 million units traded, while ARADEL (-10.00%) led the value chart in deals worth N1.04 billion.

Market breadth closed positive at a 1.87-to-1 ratio with advancing issues outnumbering the declining ones. GOLDBREW (+10.00%) topped 27 others on the leader’s table while ARADEL (-10.00%) led 14) others on the laggard’s log.