Business and Economy

Investors in the stock market lose N553.1 billion as the NGX All-Share Index declined by 1.88% on Wednesday

Investors in the Nigerian stock markets lost a whooping sum of N553.71 billion on Wednesday as the NGX All Share Index declined by 1.88% to settle at 53,018.97 points. As a result the year-to-date (YTD) return decreased to 3.45% and the market capitalization decreased by N553.71 billion to close at N28.88 trillion.

Trade turnover also witnessed a 12.78% decrease in transaction value with 3,506 transactions totaling 197.33 million shares worth N2.67 billion completed. Selling in index heavyweights like AIRTELAFRICA (-10.00%) outweighed gains in companies like ZENITHBANK (+1.39%), GTCO (+0.41%), and WAPCO (+0.78%), which helped to bring the market down.

With 64.20 million units traded, UBA (+0.00%) led the volume chart, and AIRTELAFRICA (-10.00%) led the value chart with deals totaling 536.80 million. On the laggard’s log, AIRTELAFRICA (-10.00%) outperformed ten (10) other competitors, while WAPIC (+7.50%) led nine (9) other competitors.

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