Business and Economy

Stock market closes negative on Monday as the All Share Index goes down by 0.38%

The Nigerian stock market began the week on a negative note, with the all share index dropping by 0.38% to close at 103,047.23 points on Monday. Profit-taking in Tier-1 banking stocks such as GTCO (-4.17%), FBNH (-4.75%), and ZENITHBANK (-2.24%) weighed down the market. Consequently, the year-to-date (YTD) return decreased to 37.81%, and the market capitalization lost ₦220.81bn to end at ₦58.28trn.

Trade turnover was lower compared to Friday’s session, with transaction value declining by 82.80%. A total of 245.86m shares valued at ₦3.22bn were traded in 5,302 deals. ABBEYBDS (-9.75%) led the volume chart with 137.21m units exchanged, while GTCO (-4.17%) dominated the value charts with transactions worth ₦1.55bn. ABBEYBDS (-9.75%) topped the list of twenty-one (21) laggards, while MORISON (+9.91%) led sixteen (16) gainers.

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