Business and Economy

Nigerian stock market sees further decline as NGX All-Share Index losses 1.38% on Tuesday

The Nigerian stock market continued its decline with the All-Share Index dropping 1.38% to end at 100,582.89 points. Losses in MTNN (-9.94%), FBNH (-10.00%), and GTCO (-0.13%) outweighed gains in TRANSCORP (+2.85%), STERLINGNG (+4.55%), and HONYFLOUR (+2.25%), resulting in a negative market performance. As a result, the year-to-date return of the ASI decreased to 34.52%, while the market capitalization decreased by ₦772.98bn to close at ₦55.04trn.

Trade turnover was lower compared to Monday’s session, with the total value of transactions decreasing by 8.96%. A total of 280.46m shares valued at ₦6.12bn were traded in 9,141 deals. TRANSCORP (+2.85%) recorded the highest volume of shares traded with 44.41m units, while NASCON (-7.73%) led in terms of transaction value with deals worth ₦893.68m. FBNH (-10.00%) ranked the highest among twenty-three (23) decliners, while OMATEK (+9.86%) led among eight (8) gainers.

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