Nigerian stock market analysis: stocks dip by a further 6bps on Wednesday
The Nigerian stock market analysis shows a decline for the seventh consecutive session, with the benchmark index decreasing by 6 basis points to finish at 97,774.22 points. While there was renewed interest in GTCO (+0.11%), FBNH (+4.75%), and UBA (+2.53%), this was countered by sell-offs in ZENITHBANK (-2.22%), ACCESSCORP (-0.27%), and TRANSCORP (-1.29%), leading to a lackluster market performance. As a result, the year-to-date return fell to 30.76%, and the market capitalization decreased by ₦32.04 billion, closing at ₦55.51 trillion.
Nigerian stock market analysis of activities indicated that trade turnover was significantly higher compared to the previous session, with transaction values increasing by 188.89%. A total of 1.84 billion shares, valued at ₦23.11 billion, were traded across 10,847 transactions. FIDELITYBK (+0.95%) dominated both the volume and value charts, with 1.33 billion shares exchanged in deals amounting to ₦14.04 billion.
The Nigerian stock market analysis breadth concluded positively, with a ratio of 1.04-to-1, as advancing stocks outnumbered those that declined. IMG (+10.00%) led the list of gainers, surpassing twenty-six other stocks, while NAHCO (-10.00%) was at the forefront of the laggards, leading twenty-five other stocks.
