Nigerian stock market suffers another huge loss of 2.03% on Thursday

The Nigerian stock market suffered another huge loss on Thursday as the NGX All-Share Index fell 2.03% to close at 62,748.94 points. As a result, the year-to-date (YTD) return fell to 22.43%, while market capitalization fell by N706.77 billion to close at N34.17 trillion.

Selloffs in MTNN (-4.64%), ZENITHBANK (-2.04%), and GTCO (-5.56%) pulled the total market down, but gains in BUACEMENT (+2.01%), GEREGU (+3.33%), and DANGSUGAR (+9.94%) countered the losses.

Trade turnover was lower when compared to Wednesday’s with the value of transactions falling by 17.69%. In total, 798.47 million shares worth N10.45 billion were traded in 10,296 transactions. UBA (-8.45%) dominated the volume charts with 99.02m units, while GTCO (-5.56%) lead the value charts with 1.77 billion in deals. STANBIC (-10.00%) led forty-five (45) other laggards, while DANGSUGAR (+9.94%) led seven (7) others on the leader’s board.