July 04, (THEWILL) – The domestic bourse today slipped as the benchmark index closed 1.99% weaker at 60,715.04 points against 61,949,24 the previous day..
Gains in PRESCO (+1.69% from N190 per share), FCMB (+4.26% from N5.45 per share), and TRANSCOHOT (+9.83% from N17.60 per share) were offset by selloffs in MTNN (-1.80% against N13.62), BUACEMENT (-9.86% against N92.25 per share), and ZENITHBANK (-3.83% against NN33.95 per share) keeping the market in the negative terrain.
Consequently, the year-to-date (YTD) return fell to 18.47%, while market capitalisation lost ₦672.03bn to close at ₦33.06trn. Investors lost N672 billion. Investors lost N672 billion in today’s trading.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 13.04%. A total of 1.11bn shares valued at ₦12.21bn were exchanged in 12,194 deals. FCMB (+4.26%) led the volume chart with 180.75m units traded while ZENITHBANK (-3.83%) led the value chart in deals worth ₦1.80bn.
Market breadth closed negative at a 1.70-to-1 ratio, with declining issues outnumbering advancing ones. PZ (-10.00%) led thirty-three (33) others on the laggard’s table, while ETERNA (+9.96%) topped nineteen (19) others on the gainer’s log.
On the other hand, Naira slid to N768.44/$ against N741.60/$ or a depreciation of 3.7 percent. Turnover closed flat at $88.68 million
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.