Business and Economy

Nigerian stock market NGX All-Share Index dips 0.18% on Tuesday

The bears continued to dominate the domestic stock market as the benchmark Index experienced a decline of 0.18%, settling at 103,952.47 points. The selling pressure on MTNN (-1.70%), FBNH (-3.57%), and ACCESSCORP (-2.12%) outweighed the gains made by GTCO (+1.86%), ZENITHBANK (+2.41%), and UBA (+1.33%). Consequently, the year-to-date (YTD) return of the All-Share Index (ASI) slipped to 39.02%, while the market capitalization decreased by ₦103.97bn, closing at ₦58.78trn.

Upon analyzing today’s market activities, it was observed that the trade turnover was lower compared to the previous session, with the value of transactions declining by 0.81%. A total of 374.41bm shares, valued at ₦11.29bn, were exchanged in 8,689 deals. GTCO (+1.86%) emerged as the leader in terms of both volume and value, with 67.15m units traded in deals worth ₦3.27bn.

The market breadth remained unchanged, with ABBEYDS (+10.00%) leading twenty-three (23) other stocks on the leader’s table, while UPDC (-9.87%) led twenty-three (23) others on the laggard’s log.

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