Business and Economy

Nigerian stock market starts the week negative as the All-Share Index extends losses by 0.19%

The Nigerian stock market started the week on a negative note, with the All-Share Index closing 19bps lower at 97,962.24 points. The decline was mainly driven by the selloff in ZENITHBANK (-3.99%), GTCO (-0.30%), and DANGSUGAR (-10.00%), which outweighed the gains in FBNH (+9.83%), UBA (+1.09%), and ACCESSCORP (+2.11%). As a result, the year-to-date return for the ASI fell to 31.01%, and the market capitalization lost ₦107.70bn to close at ₦55.40trn.

Today’s market activities showed an increase in trade turnover compared to the previous session, with the value of transactions up by 1.20%. A total of 277.24m shares valued at ₦5.08bn were exchanged in 8,714 deals. UBA (+1.09%) was the most actively traded stock, with 34.56m units traded in deals worth ₦799.45m. STERLINGNG (+9.95%) emerged as the top gainer among twenty-three others on the leader’s table, while DANGSUGAR (-10.00%) led eighteen others on the laggard’s log.

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