Investors lose N96.5 billion as stock market index slumps by 0.27%

The Nigerian stock market Index fell 0.27% today, Thursday, to close at 64,448.96 points. As a result, the market is headed for a week of losses. As a result, the ASI’s year-to-date (YTD) return decreased to 25.75%, while market capitalization fell N96.50 billion to close at N35.27 trillion.

Sustained selloffs in Tier-1 banking stocks ZENITHBANK (-1.31%), GTCO (-0.27%), and ACCESSCORP (-0.89%) offset gains in FBNH (+3.61%), DANGSUGAR (+4.41%), and FIDELITYBK (+2.74%), driving the market down.

Turnover was lower than Wednesday’s session, with the value of transactions falling by 49.82%. In 5,176 transactions, 320.35 million shares worth N3.73 billion were swapped. With 80.05m units traded in deals, FIDELITYBK (+2.74%) lead the volume and value charts with 80.05 million units traded in deals worth over ₦595.54 million. CUTIX (+8.00%) led fourteen (14) other companies on the leader’s board, while NASCON (-5.15%) led eleven (11) other companies on the laggard’s board.