Market capitalization on the Nigerian stock market drops by N127 billion as the All Share Index losses 0.41% on Wednesday

The Nigerian stock market All-Share Index lost another 0.41% on Wednesday to close at 55,490.20 points marking its fourth consecutive session loss as buy-interests and sell-offs as bears dominated proceedings, driving down the broad market.  The year-to-date (YTD) return decreased to 8.27%, and the market capitalization decreased by N127 billion to close at N30.228 trillion.

The market underperformed due to selloffs in ZENITHBANK (-4.60%), GTCO (-0.79%), and GEREGU (-6.46%). Trade turnover settled higher compared to Tuesday’s performance as a total of 3,908 transactions involving181.19 million shares worth N3.41 billion were exchanged.

GTCO (-0.79%), which traded 33.85 million units for deals totaling $841.95 million, topped the volume and value charts. In the laggard’s log, UCAP (-9.30%) outperformed seventeen (17) other companies, while NGXGROUP (+4.87%) outperformed seven (7) other companies.