Business and Economy

Nigerian stock market results negative as losses was 9% today

The Nigerian stock market analysis saw a continuation of the downward trend, with the main index dropping by 9 basis points to end at 99,217.60 points. The decline was mainly driven by selling pressure in major stocks like ZENITHBANK (-1.81%), UBA (-1.14%), and ACCESSCORP (-0.27%), outweighing the gains in GTCO (+0.23%), FBNH (+0.50%), and TRANSCORP (+3.75%). As a result, the year-to-date (YTD) performance decreased to 32.69%, and the market capitalization lost ₦48.86 billion to close at ₦56.13 trillion.

Today’s Nigerian stock market analysis revealed a 68.09% decrease in trade turnover compared to the previous session, with 361.57 million shares traded at a value of ₦6.16 billion in 8,511 deals. TRANSCORP led the volume chart with 47.51 million units traded, while GTCO led in terms of value with deals worth ₦1.65 billion.

Market breadth ended positively with advancing stocks outnumbering declining ones at a ratio of 1.09-to-1. OKOMUOIL (+10.00%) topped the list of gainers, while OANDO (-9.75%) led the list of decliners among twenty-four (24) and twenty-two (22) others, respectively.

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