Business and Economy

Nigerian Stock Market Suffers 0.89% Decline in Market value

The Nigerian stock market’s NGX All-Share Index started the week on a negative note, declining by 0.89% to end at 98,703.68 points. Despite gains in ZENITHBANK (+0.58%), GTCO (+7.61%), and TRANSCOHOT (+5.60%), sell pressures in index heavyweight, AIRTELAFRI (-10.00%), as well as STANBIC (-2.80%) and TRANSCORP (-3.55%), contributed to the overall weak performance. As a result, the ASI year-to-date (YTD) fell to 32.00%, while market capitalization decreased by ₦499.71bn to close at ₦55.82trn.

Trade turnover increased compared to the previous session, with transaction value rising by 26.10%. A total of 421.73m shares valued at ₦8.95bn were traded in 10,624 deals. ACCESSCORP (+3.16%) led both the volume and value charts with 98.24m units exchanged at ₦1.76bn. CORNERST (+10.00%) topped the list of thirty-six (36) gainers, while AIRTELAFRI (-10.00%) led the seventeen (17) decliners.

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