Business and Economy

Nigerian stock market starts the week with ₦62.55bn loss

The Nigerian stock market NGX All-Share Index lost 0.18% on Monday to close at 65,210.49 points. As a result, the ASI’s YTD return fell to 27.24%, while the market capitalization fell N62.55 billion to close at N35.51 trillion.

Selloffs in Tier 1 banking names ZENITHBANK (-2.57%), GTCO (-0.79%), and STANBIC (-0.69%) were countered by demand for WAPCO (+0.18%), DANGSUGAR (+4.55%), and ETI (+2.22%), resulting in the poor performance. Trade turnover was lower than it was on Friday with the value of transactions falling by 49.72%. In 5,899 transactions, 259.04 million shares worth N4.20 billion were swapped.

TRANSCORP (+2.83%) dominated the volume chart with 41.76 million units traded, while GTCO (-0.79%) headed the value chart with transactions totaling N15.57 billion. ETERNA (-9.90%) finished ahead of seventeen (17) other laggards, while CORNERST (+9.32%) led fourteen (14) other leaders.

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