Business and Economy

Nigerian stock market goes down again by 0.48% on Tuesday

The Nigerian stock market experienced further decline today compared to the previous session, resulting in the All-Share Index closing at 98,228.50 points, down by 0.48%. The negative sentiment was primarily driven by losses in MTNN (-0.23%), ZENITHBANK (-0.29%), and GTCO (-5.98%), which offset the gains in PRESCO (+10.00%), OANDO (+2.51%), and WEMABANK (+7.28%). Consequently, the year-to-date (YTD) performance of the All-Share Index dropped to 31.37%, and the market capitalization decreased by ₦268.75bn to close at ₦55.55trn.

Upon analyzing today’s market activities, it was observed that the trade turnover was lower compared to the previous session, with the value of transactions declining by 6.76%. A total of 425.66m shares, valued at ₦8.35bn, were exchanged in 9,620 deals. UBA (+0.00%) emerged as the leader in both volume and value, with 102.23m units traded in deals worth ₦2.68bn. UNITYBNK (-10.00%) stood out as the top laggard among twenty-five others, while PRESCO (+10.00%) led thirteen others on the leader’s log.

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