Business and Economy

Nigerian stock market losses N99 billion as the All-Share Index falls by 0.33%

The Nigerian stock exchange lost N99 billion today as the All-Share Index dropped by 0.33% to close at 54,232.34 points. As a result the the Year-to-Date (YtD) returns settled at 5.11% while the market capitalization closed at N29,543 trillion. The Nigerian stock market has increased by 2,636.68 basis points since the beginning of 2023 

Trade turnover witnessed a 12.93% decrease in transaction value with 3,943 transactions totaling 557.93 million shares worth N3.68 billion completed. Selloffs in Tier-1 banking companies such as ZENITHBANK (-0.19%), GTCO (-0.20%), and FBNH (-0.45%) were offset by gains in AIRTELAFRI (+4.15%).

Market breadth closed positive as LASACO led 20 gainers, and 14 losers topped by CWG at the end of today’s session. 

  • LASACO up + 10.00% to close at N1.10
  • IKEJAHOTEL up + 9.91% to close at N1.22
  • CHIPLC up + 9.68% to close at N0.68
  • UACN up + 9.14% to close at N9.55
  • NNFM up + 8.64% to close at N11.95

Top ASI losers   

  • CWG down – 9.38% to close at N0.87
  • CAVERTON down – 9.35% to close at N0.97
  • TRANSCORP down – 7.33% to close at N1.39
  • UCAP  down – 3.45% to close at N11.20
  • CUTIX down – 2.61% to close at N2.24

With 287.68 million units exchanged, TRANSCORP (-7.33%) topped the volume chart, while NGXGROUP (-1.79%) topped the value one with transactions totaling 685.07 million. In the leader’s log, UACN (+9.14%) outperformed eleven (11) other companies, while TRANSCORP (-7.33%) outperformed ten (10) other companies.

Leave a Reply