Business and Economy

Nigerian Stock market suffers a loss of 0.33% on Tuesday

The NGX stock exchange experienced a decline in its benchmark All Share index resulting in a loss of 0.33% and closing at 101,707.70 points. The decrease in the value of Tier-1 banking stocks such as ZENITHBANK (-3.79%), GTCO (-1.00%), and UBA (-4.77%) outweighed the interest of investors in DANGSUGAR (+1.25%), ACCESSCORP (+0.43%), and UCAP (+3.63%), leading to a negative market performance. Consequently, the year-to-date return fell to 36.02%, and the market capitalization decreased by ₦183.10bn, closing at ₦55.65trn.

Trade turnover was lower compared to Monday session, with a 16.09% decrease in the value of transactions. A total of 263.19bn shares valued at ₦4.30bn were exchanged in 8,614 deals. VERITASKAP (+9.59%) recorded the highest volume of trades with 49.07m units, while UBA (-4.77%) led in terms of value with deals worth ₦587.50m. PZ (-9.87%) emerged as the top laggard among twenty-seven (27) others, while HONYFLOUR (+9.92%) led twenty-two (22) others on the leader’s log.

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