Business and Economy

Nigerian stock market capitalization drops by N621.99 billion on Monday as the All-Share Index posts biggest single-day loss of 2.08%

The Nigerian stock lost a whooping N622 billion on Monday as the NGX All Share Index fell by 2.08% to close at 53,750.77 points. As a result of this, the ASI’s year-to-date (YTD) return decreased to 4.88%, and the market capitalization closed at N29,28 trillion.

The value of transactions increased by 12.11% with trade turnover witnessing a total of 3,279 transactions involving 100.88 million shares worth N4.34 billion. Selloffs in Index heavyweights AIRTELAFRI (-8.11%), MTNN (-1.27%), and SEPLAT (-4.17%) were the main causes of the market’s poor performance.

With 12.84 million units traded, GTCO (-0.40%) dominated the volume chart, while MTNN (-1.27%) headed the value chart with transactions totaling $1.93 billion. On the laggard’s table, UNITYBNK (-9.43%) outperformed fourteen (14) other teams, while COURTVILLE (+6.67%) outperformed three (3) other teams.

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