Business and Economy

Nigerian stock market extends losses by ₦8.62billion on Monday

Nigerian stock market continued to decline at the start of the week, with the All-Share Index closing 2bps lower at 100,006.79 points. The market saw a selloff in FBNH (-0.65%), DANGSUGAR (-0.86%), and TRANSCORP (-5.45%), outweighing gains in GTCO (+0.32%), ZENITHBANK (+0.40%), and ACCESSCORP (+2.08%). This led to a decrease in the ASI year-to-date (YTD) return to 33.75%, and the market capitalization lost ₦8.62bn to close at ₦56.57trn.

    Analysis of today’s market activities revealed that trade turnover was higher compared to the previous session, with the value of transactions up 18.98%. A total of 689.98m shares valued at ₦7.17bn were exchanged in 9,635 deals.

    ELLAHLAKES (+0.00%) led the volume chart with 271.49m units traded, while GTCO (+0.32%) led the value chart in deals worth ₦1.94bn. PZ (-10.00%) topped twenty-two (22) others on the laggard’s log, while VERITASKAP (+9.57%) led twenty-one (21) others on the leader’s table.

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