Business and Economy

Nigeria’s NGX All-Share Index lost 0.32% on Wednesday

The Nigerian stock market experienced a continued negative sentiment as the All-share-index dropped by 0.32% to reach 104,181.32 points on Wednesday. The decline was primarily driven by the selloffs of GTCO (-1.23%), ZENITHBANK (-1.23%), and FBNH (-5.02%), which outweighed the gains made by DANGSUGAR (+1.35%), FLOURMILL (+0.64%), and JBERGER (+0.08%). Consequently, the year-to-date (YTD) return decreased to 39.33%, and the market capitalization decreased by ₦190.45bn, closing at ₦58.91trn.

Trade turnover settled lower compared to the previous session, with the value of transactions decreasing by 39.04%. A total of 405.03m shares valued at ₦8.91bn were exchanged in 10,364 deals. ACCESSCORP (-4.20%) led the volume chart with 50.00m units traded, while ZENITHBANK (-1.23%) led the value chart with deals worth ₦1.86bn. INTENEGINS (-10.00%) topped the laggard’s table among thirty-one (31) others, while UPL (+9.84%) led the leader’s log among nineteen (19) others.

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