Business and Economy

Nigeria stock market’s All-Share Index closes negative on Friday losing 1.39% w/w

Throughout the week, there were losses in MTNN, ZENITHBANK, and FBNH, which outweighed the buy interest in GTCO, UBA, and FIDELITYBK, resulting in a negative performance for the market. As a result, the year-to-date return on the index decreased to 31.27%, and the market capitalization lost ₦784.72bn to close at ₦55.51tn.

In today’s trading session, the market had a mixed performance with a bearish tilt. The benchmark index closed slightly lower at 98,152.91 points, a decrease of 2bps. The continued selloff in ZENITHBANK, GTCO, and NESTLE offset the investors’ interest in FBNH, UBA, and ACCESSCORP. The ASI closed 1.39% lower for the week, having experienced losses in three out of the five trading sessions.

Today’s market activities showed a decrease in trade turnover compared to the previous session, with the value of transactions down by 22.92%. A total of 265.07m shares valued at ₦5.02bn were exchanged in 6,582 deals. UBA led the volume and value chart with 42.35m units traded worth ₦980m. The market breadth closed negative, with declining issues outnumbering advancing ones at a ratio of 0.95-to-1. SOVRENINS topped the laggard’s table, while FBNH led the leader’s log.

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