Nigerian stock market Analysis: capitalization drops by ₦748.66bn on Monday
The Nigeria stock market analysis for today shows that the week commenced with a continuation of bearish sentiment in the Nigerian stock market, as the benchmark index declined by 136 basis points, concluding at 95,781.68 points, marking its lowest level since January 22nd.
The industrial giant DANGCEM experienced a significant drop of 10.00%, while prominent banking institutions such as GTCO and FBNH saw minor declines of 0.43% and 0.95%, respectively. In contrast, gains were noted in BUACEMENT, which rose by 3.73%, TRANSCOHOT with an increase of 6.25%, and UBA, which appreciated by 1.11%. As a result, the year-to-date return decreased to 28.10%, and the market capitalization diminished by ₦748.66 billion, settling at ₦54.38 trillion.
An Stock market analysis of today’s market activities revealed that trade turnover increased compared to the previous session, with transaction values rising by 2.47%. A total of 3.55 billion shares, valued at ₦7.65 billion, were traded across 9,291 transactions. GTCO emerged as the leader in both volume and value, with 59.25 million shares exchanged in deals amounting to ₦2.73 billion.
The market breadth concluded positively, with a ratio of 1.82-to-1, indicating that advancing stocks outnumbered those that declined. SKYAVN led the list of gainers with a rise of 10.00%, while DANGCEM topped the list of decliners with a decrease of 10.00%, alongside fifteen other lagging stocks.
