Business and Economy

Nigerian stock market value slips by 15 basis points on Thursday

The Nigerian stock market experienced a decline in today’s trading session, causing the All-Share index to lose 15 basis points and close at 99,134.85 points. This puts the index on track for a negative week. The decrease in stocks such as STANBIC, TRANSCORP, and FIDELITYBK offset the gains in ZENITHBANK, FBNH, and UBA, resulting in a red index. As a result, the year-to-date return slipped to 32.58%, and the market capitalization lost ₦84.58bn, closing at ₦56.08trn.

In terms of market analysis, the turnover was higher compared to the previous session, with the value of transactions increasing by 10.74%. A total of 309.81 million shares valued at ₦5.39bn were exchanged in 6,765 deals. FIDELITYBK led the volume chart with 49.20 million units traded, while GUINNESS led the value chart with deals worth ₦975.58m. MAYBAKER topped the laggard’s table among seventeen others, while OANDO led sixteen others on the leader’s log.

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