Nigerian stock market losses 2.47% and ₦883.39 billion on Tuesday

The Nigerian stock market All-Share Index lost 2.47% at the close of trading on Wednesday to settle at 64,046.93 points, ending the five-day winning streak. In the same vein it lost N883.39 billion in market value. As a result, the year-to-date (YTD) return dropped to 24.97% and the market capitalization decreased by N883.39 billion to close at N34.87 trillion.

Despite gains from ZENITHBANK (+0.73%) and GTCO (+0.28%), Nigerian stock market underperformed due to selloffs in index heavyweight DANGCEM (-9.62%), NESTLE (-1.34%), and ACCESSCORP (-4.16%).

Trade turnover settled higher than it did on Tuesday. In total, 13,878 transactions involved 1.16 billion shares worth a total of N12.69 billion. UBA (-0.70%), with 177.79m units exchanged in transactions totaling N2.44bn, topped the value and volume charts. While COURTVILLE (+10.00%) led four (4) other teams on the leader’s log, FBNH (-10.00%) outperformed 46 other teams on the laggard’s table of the Nigerian stock market