Business and Economy

Nigerian stock market make ₦25.72billion capitalization growth on Tuesday

The Nigerian stock market concluded the trading day with a 5 basis point increase, closing at 100,067.77 points. Strong investor interest in top-performing stocks like GTCO (+1.88%), ZENITHBANK (+2.59%), and UBA (+2.25%) drove the overall index into positive territory, counteracting the decline in FBNH (-4.35%), DANGSUGAR (-2.33%), and TRANSCORP (-2.71%). As a result, the year-to-date return climbed to 33.83%, while the market capitalization saw an increase of ₦25.72bn to end the day at ₦56.61trn.

Today’s market analysis revealed a higher trade turnover compared to the previous session, with transaction value rising by 10.86%. A total of 365.64 million shares valued at ₦4.12bn were traded in 8,665 deals. UNIVINSURE (+7.89%) led in volume with 61.53 million units traded, while UCAP (+0.18%) led in value with transactions worth ₦711.31m.

Market breadth closed negatively with a ratio of 0.92-to-1, indicating more declining stocks than advancing ones. RTBRISCOE (-9.86%) topped the list of decliners among twenty-three others, while CORNERST (+10.00%) led among twenty-one gainers.

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