Business and Economy

Nigerian Stock Market losses N111.74 billion on Thursday

The Nigerian stock market closed lower for the second consecutive day as the All Share Index fell by 0.30% to settle at 68,082.11 points. As a result, the market remains on track for a week of gains. As a result, the YTD return fell to 32.84%, with market capitalization falling N111.74 billion to close at N37.26 trillion.

The market’s poor performance was driven by bearish sentiment in DANGCEM (-1.35%), NESTLE (-1.39%), and ZENITHBANK (-0.14%), outweighing gains in GTCO (+0.52%), ACCESSCORP (+0.87%), and FBNH (+1.11%).

Trade turnover settled higher with the value of transactions increasing by 52.77%. In 8,106 transactions, 378.09 million shares worth N8.38 billion were swapped. OANDO (-4.76%) dominated the volume chart with 91.64 million units traded, while NESTLE (-1.39%) headed the value chart with transactions totaling $1.93 billion. COURTVILLE (-7.69%) led twenty-two (22) other laggards on the laggard’s table, while CADBURY (+9.86%) led eighteen (18) other leaders on the leader’s table.

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