New Telegraph

NGX ASI Index drops further by 0.29%

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Trading activities at the Nigerian capital market, on Thursday, sustained the bearish run for the second consecutive session as the Nigerian Exchange Limited (NGX) All- Share Index (ASI) closed 0.29 per cent to close at 49,546.38 points, the lowest point since August 9. The sell-off in the shares of BUACEMENT (-1.37 per cent), MTNN (-0.50 per cent), ACCESSCORP (per cent) and OKOMUOIL (-9.96 per cent) contributed to keep the broader index in the red.

Consequently, the yearto- date (YTD) return fell to 15.99 per cent, with the market capitalization down by N78.10 billion to close at N26.72 trillion. Analysis of Thursday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 35.75 per cent.

A total of 146.99 million shares valued at N2.65bn were exchanged in 3,180 deals. FBNH (+0.00 per cent) led the volume chart with 38.97 million units traded, while MTNN (-0.50 per cent) led the value chart in deals worth N558.61 million. Market breadth closed negative with declining issues outnumbering advancing ones. NEM (-9.98 per cent) topped twentythree (23) others on the laggard’s log, while FTNCOCOA (+10.00 per cent) led eleven (11) others on the leader’s table.

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