Business and Economy

Nigerian stock market year-to-date (YTD) return increases to 39.35%

Nigerian stocks ended the week with a 0.08% gain as the All-Share Index closed at 71,419.87 points. As a result, the market capitalization dropped ₦90.37 trillion in a week to close at ₦39.08 trillion, while the year-to-date (YTD) return increased to 39.35%.

Throughout the week, selloffs in DANGCEM (-2.44% w/w), BUAFOODS (-1.92% w/w), and STANBIC (-4.54% w/w) were balanced by strong performances in AIRTELAFRI (+0.56% w/w), SEPLAT (+10.00% w/w), and ZENITHBANK (+0.86% w/w).. Gains in Tier 1 banking names ACCESSCORP (+0.28%), GTCO (+0.26%), and ZENITHBANK (+2.79%) lifted the market today. The ASI closed 0.27% higher week over week after rising in four out of the five trading days this week.

Trade turnover settled at a lower value than it did in the previous session, with a 0.17% decrease in transaction value. In 5,640 trades, 361.12 million shares worth ₦10.23 billion were traded. With 44.08 million units traded, UNIVINSURE (+8.00%) topped the volume chart, while DANGCEM (+0.00%) headed the value chart with trades totaling ₦5.29 billion. SUNUASSUR (-10.00%) led twenty-four (24) others on the laggard’s log, while UNITYBNK (+10.00%) led thirty-six (36) others on the leader’s table.

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