Business and Economy

Stock market capitalization goes down by N18 billion as All Share Index declines 0.05% on Friday

The stock market All-Share Index declined by 0.05% to close at 54,327.30 points on Friday. The Market Capitalization decreased by N18 billion to close at N29.590 trillion in a similar vein, while the Year-to-Date (YtD) returns was 5.29%. Since the year’s start, the stock market has increased by 2,731.64 basis points.

On a week on week basis, the ASI closed 0.21% higher w/w, extending advances for the fifth straight week, after rising in two (2) of the five (5) trading sessions this week.

Trade turnover settled higher than on Thursday as 3,563 transactions totaling 175.66 million shares worth N5.33 billion were completed. The performance of the market as a whole was driven by selloffs in telco heavyweight MTNN (-0.82%).

DANGCEM (+1.16% w/w), MTNN (+1.68% w/w), and WAPCO (+1.39% w/w) lead the market’s advances for the week. On the other hand, the market was agitated by NB (-3.11% w/w), FBNH (-0.84% w/w), and ACCESSCORP (-1.09% w/w).

With 30.22 million shares traded, FBNH (+0.42%) headed the volume chart, while AIRTELAFRI (+0.00%) led the value chart with trades totaling N5.29 billion. CONOIL (+9.95%) led eight (8) other competitors on the leader’s table, while SOVRENINS (-9.09%) led sixteen (16) other competitors on the laggard’s log.

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