Nigerian stock market All-Share Index goes down on Wednesday, losing 0.43%

The Nigerian stock market all share index dropped 0.43%on Wednesday to close at 66,482.28 points. As a result the year-to-date (YTD) return decreased to 29.72% as the market capitalization decreased by N158.01 billion to close at N36.39 trillion.

Investor enthusiasm for Tier 1 banking companies including ZENITHBANK (+1.27%), GTCO (+2.27%), and ACCESSCORP (+0.31%) was offset by ongoing selloffs in telco heavyweights like MTNN (-3.85%), FBNH (-0.31%), and WAPCO (-0.17%), which caused the market to decline.

The value of transactions increased by 19.38% while trade turnover settled higher than it was on Tuesday with a total of 6,646 transactions involving 657.52 million shares worth N4.60 billion. With 31.69 million units exchanged, FIDELITYBK (-3.57%) topped the volume chart. GTCO (+2.27%) topped the value list with transactions of N885.39 million. On the leader’s log, OANDO (+9.88%) outperformed twenty (20) other participants, while WEMABANK (-10.00%) outperformed seventeen (17) other participants.