Business and Economy

Nigerian stock market ASI suffers a decline of 0.73% on Monday

The Nigerian stock market witnessed a 0.73% decline today to settle at 103,659.81 points. This decline was mainly due to the sell-off of MTNN (-5.52%), ZENITHBANK (-2.03%), and GTCO (-2.53%), offsetting the gains made by GEREGU (+8.26%), STANBIC (+0.08%), and FLOURMILL (+0.73%). Consequently, the year-to-date return of the ASI fell to 38.63%, and the market capitalization decreased by ₦436.97bn to close at ₦56.72trn.

Upon analyzing today’s market activities, it was observed that the trade turnover was lower compared to the previous session, with a 17.67% decrease in the value of transactions. A total of 841.55bm shares valued at ₦19.33bn were exchanged in 13,674 deals. FBNH (-0.76%) led both the volume and value chart with 332.30m units traded in deals worth ₦8.95bn. ABBEYBDS (-9.70%) topped the laggard’s table among twenty-six others, while CADBURY (+10.00%) led twenty-five others on the leader’s log.

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