Business and Economy

NGX All-Share Index closes slightly down

The Nigerian Stock Market concluded the trading session with a mixed performance as the all share index settled at 102,106.31 points. The decline in Tier-1 banking stocks such as ZENITHBANK (-1.87%), GTCO (-1.75%), and UBA (-1.95%) outweighed the gains in BUAFOODS (+3.82%), FCMB (+1.06%), and STERLINGNG (+0.68%), resulting in a negative market sentiment. Consequently, the year-to-date (YTD) return decreased to 36.55%, and the market capitalization declined by ₦954.04m to close at ₦55.87trn.

Trade turnover was lower compared to the previous session, with a 15.68% decrease in the value of transactions. A total of 341.92bm shares, valued at ₦6.41bn, were exchanged in 9,665 deals. TRANSCORP (-1.62%) recorded the highest volume of trades with 39.90m units, while GTCO (-1.75%) led in terms of value with deals worth ₦1.02bn. AIICO (-9.92%) ranked first among thirty-four (34) other declining stocks, while MEYER (+10.00%) led sixteen (16) other advancing stocks.

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