Business and Economy

Investors lose N90 billion as ASI drops 0.31% on Monday

The NGX All-Share Index dropped 0.31% to close at 52,348.82 points on Monday. The market underperformed due to selloffs in Tier-1 banking names such as ZENITHBANK (-3.72%), GTCO (-1.63%), and FBNH (-0.43%). As a result, the market capitalization dropped N89.14 billion to close at 28.51 trillion, and the year-to-date (YTD) return decreased to 2.14%.

The value of transactions increased by 27.34% today, according to an analysis of market activity, indicating that trade turnover settled higher than it had the previous session. In total, 5,219 transactions involved 221.85 million shares worth £3.25 billion. With 22.93 million units exchanged, UBA (-4.19%) led the volume chart, and GTCO (-1.63%) headed the value chart with transactions totaling 482.50 million.

Market breadth ended down at a ratio of 1.36 to 1, with fewer rising items than declining ones. Presco (+9.67%) outperformed thirteen (13) other companies on the gainer’s log while LIVESTOCK (-7.69%) trailed eighteen (18) other companies on the laggard’s table.

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