Business and Economy

Stock market All Share Index declines by 1.50% on Tuesday

The Nigerian stock exchange experienced further decline today resulting in a decrease of 1.50% in the All-Share Index, which closed at 102,108.05 points. The negative sentiment in BUACEMENT (-10.00%), ZENITHBANK (-3.10%), and GTCO (-1.48%) outweighed the gains in MTNN (+0.36%), NB (+2.50%), and FIDELITYBK (+3.45%), leading to a drag in the overall market performance. As a result, the year-to-date return of the All-Share Index fell to 36.56%, and the market capitalization decreased by ₦849.10bn to close at ₦55.87trn.

Trade turnover was lower compared to the previous session, with a decline of 60.70% in the value of transactions. A total of 494.19bm shares, valued at ₦7.60bn, were exchanged in 11,761 deals. JAIZBANK (-2.62%) recorded the highest volume of trades with 90.78m units, while GTCO (-1.48%) led in terms of value with deals worth ₦1.32bn. BUACEMENT (-10.00%) stood out as the top laggard among forty-three (43) others, while CADBURY (+10.00%) led twelve (12) others on the leader’s log.

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