Business and Economy

Nigerian stock market falls 0.66% on Monday

The Nigerian stock market started the week with a loss of 0.66% as the All Share Index slipped to conclude at 66,882.64 points. As a result, the ASI’s YTD return decreased to 30.50%, while the market capitalization fell N241.88 billion to close at N36.61 trillion

Selloffs in telco heavyweight MTNN (-1.67%), as well as ZENITHBANK (-1.54%) and GTCO (-0.42%), drove the market’s poor performance. Trade turnover settled higher with the value of transactions increasing by 24.96%. In 7,707 transactions, 408.19 million shares worth N5.44 billion were exchanged.

ACCESSCORP (-9.86%) dominated the volume and value charts, with 113.39 million units exchanged in transactions worth N1.78 billion. ACCESSCORP (-9.86%) headed a group of twenty-eight (28) laggards, while CORNERST (+9.49%) led a group of ten (10) leaders.

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