Business and Economy

Nigeria Stock Market’s NGX All-Share Index slumps 1.53% losing N429.77 billion in capitalization on Thursday

The Nigeria stock Market’s NGX All-Share Index slumped by 1.53% on Thursday to settle at 50,868.52 points, snapping a thirteen-day gaining streak, as the domestic exchange gave in to sale pressure. The year-to-date (YTD) return decreased to -0.75%, and the market capitalization decreased by N429.77 billion to close at N27.706 trillion.

Market activity revealed that trade turnover was lower than it had been during the previous session, with a decline in transaction value of 86.49%. 3,673 transactions totaling 138.72 million shares worth N1.828 billion were completed.

With 29.15 million units exchanged, STERLNBANK (-2.10%) topped the volume chart. GTCO (+2.13%) topped the value table with deals totaling 477.77 million. The largest impediment to the market as a whole was the selloff in index heavyweight AIRTELAFRI (-8.26%).

At a ratio of 1.38 to 1, the market breadth closed in the positive, with more rising issues than declining ones. On the gainer’s table, HONYFLOUR (+9.95%) outperformed seventeen (17) rivals, while AIRTELAFRI (-8.26%) outperformed twelve (12) rivals.

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