Business Insights

Nigerian stock market suffers 1.75% (N621.6) billion loss on Wednesday

The Nigerian stock market suffered losses on Thursday as the All-Share Index fell 1.75% to close at 64,167.39 points, marking its second consecutive session fall. As a result, the year-to-date (YTD) return decreased to 25.20%, while market capitalization fell N621.601 billion to close at N34.92 trillion.

Index heavyweights MTNN (-1.43%), DANGCEM (-9.09%), and ACCESSCORP (-0.29%) sold off, offsetting recoveries in GEREGU (+5.11%), WAPCO (+1.08%), and ETI (+3.33%), backing the market’s poor performance. NASCON (-10.00%) outperformed twenty-three (23) other laggards, while MBENEFIT (+6.25%) outperformed thirteen (13) other leaders

Trade turnover was lower than it was on Tuesday with the value of transactions falling by 41.48%. In 6,001 transactions, 238.04 million shares worth N2.62 billion were swapped. STERLINNG (-1.9%) led the volume chart with 32.67 million units exchanged, while MTNN (-1.43%) won the value charts with 468.15 million in transactions.

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