Business and Economy

Nigerian stock market capitalization down by ₦2.56m on Wednesday

Today’s trading session concluded with a mixed performance, leaning towards bearish as the benchmark index settled at 98,223.97 points. Despite gains in MTNN (+2.33%), OKOMUOIL (+9.98%), and FCMB (+3.25%), selloffs in Tier-1 banking names such as ZENITHBANK (-2.59%), GTCO (-1.43%), and ACCESSCORP (-1.98%) resulted in the market closing in the red. Consequently, the year-to-date (YTD) return decreased to 31.36%, and the market capitalization dropped by ₦2.56m to end at ₦55.55trn.

Trade turnover increased compared to the previous session, with the value of transactions rising by 9.94%. A total of 319.08m shares valued at ₦9.18bn were traded in 8,121 deals. UBA (+0.00%) led the volume chart with 79.98m units traded, while MTNN (+2.33%) topped the value chart with transactions worth ₦2.56bn. PZ (-10.00%) ranked highest among seventeen (17) laggards, while OKOMUOIL (+10.00%) led twelve (12) other gainers.

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