Nigerian stock market analysis: All-Share Index losses 24bps on Monday
The Nigerian stock market analysis for Monday September 09 reveals a a decline, reversing the gains from the previous session, as the All-Share Index fell by 24 basis points to finish at 96,205.84 points. Key contributors to this market downturn included TRANSPOWER, which dropped by 9.99%, along with Tier-1 banks such as ZENITHBANK and ACCESSCORP, both declining by 1.33%.
This occurred despite notable increases in OANDO, which rose by 9.95%, FBNH, which gained 8.84%, and STANBIC, which saw a slight increase of 0.17%. As a result, the year-to-date return decreased to 28.66%, and the market capitalization diminished by ₦111.16 billion, concluding at ₦55.28 trillion.
An analysis of today’s trading activities indicated that trade turnover was higher compared to the previous session, with transaction values increasing by 21.82%. A total of 774.38 million shares, valued at ₦14.65 billion, were traded across 10,412 transactions. JAIZBANK led in volume with 247.04 million shares exchanged, while ZENITHBANK topped the value chart with transactions amounting to ₦6.42 billion.
The market breadth concluded positively, with a ratio of 1.68-to-1, indicating that advancing stocks outnumbered those that declined. ETERNA emerged as the top gainer, increasing by 10.00%, while JBERGER led the decliners, falling by 10.00%.
