Business and Economy

Nigerian stock market goes down by 0.15% (N57.31 billion) on Monday

The Nigerian stock market NGX All-Share Index fell by 0.15% on Monday to close trading at 71,008.70 points. As a result, the market capitalization dropped ₦57.31bn to close at ₦39.05trn, and the ASI’s year-to-date (YTD) return dropped to 38.55%.

The poor performance was caused by selloffs in Tier-1 banking stocks such as ZENITHBANK (-0.75%), STANBIC (-7.08%), and UBA (-0.48%), which countered demand for GTCO (+0.27%), GEREGU (+0.88%), and OANDO (+3.42%).

Trade turnover was smaller than on Friday with a decrease in transaction value of 27.77%. 6,551 deals totaling 358.45 million shares at a value of ₦4.36 billion were exchanged. With 27.58 million units traded, ACCESSCORP (-0.58%) topped the volume chart, while ZENITHBANK (-0.75%) topped the value list with ₦502.95 million worth of trades. On the leader’s log, MECURE (+9.95%) had the advantage over thirty-three (33) others, and on the laggard’s table, RTBRISCOE (-9.84%) had the advantage over fourteen (14) others.

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