Nigerian stock market sheds N46.74 billion as the All Share index drops 0.16%

The Nigerian stock market declined today as the benchmark index dropped to 52,615.51 points, losing 0.16%. Trade turnover settled at a higher level compared to the prior session, with transaction value increasing by 0.63%. In a total of 3,377 transactions, 217.95 million shares worth N4.47 billion were exchanged.

The market capitalization lost N46.74 billion to close at N28.66 trillion, and the year-to-date (YTD) return decreased to 2.66%.

The market performed poorly as a result of decreased demand in AIRTELAFRI (+0.63%) and GTCO (+1.03%), which were offset by selloffs in DANGCEM (-1.85%), ZENITHBANK (-0.20%), and GEREGU (-0.14%).

For the second straight day, GEREGU (-0.14%) dominated the value chart with trades totaling 1.35bn, while STERLNBANK (-1.30%) led the volume chart with 94.27m units moved. Market breadth ended down at a ratio of 1.38 to 1, with fewer rising items than declining ones. While LINKASSURE (+9.09%) outperformed twelve (12) other companies on the gainer’s log, FTNCOCOA (-6.67%) led seventeen (17) others on the laggard’s table.