Business and Economy

Stock market declines by 0.12% to settle at 101,239.10 bp

The Nigerian stock market experienced a slight decline today with the benchmark index losing 0.12% and closed at 101,239.10 points. The decrease was primarily driven by selloffs in UBA (-0.42%), ACCESSCORP (-2.55%), and STANBIC (-8.33%), which offset the investors’ interest in ZENITHBANK (+0.70%), GTCO (+2.46%), and FBNH (+1.05%). As a result, the market ended in the red, indicating a week of losses. The ASI year-to-date (YTD) return slipped to 35.39%, and the market capitalization decreased by ₦67.45bn, closing at ₦55.40trn.

Trade turnover settled lower compared to the previous session, with a 24.54% decrease in the value of transactions. A total of 253m shares, valued at ₦4.94bn, were exchanged in 7,248 deals. FBNH (+1.05%) led both the volume and value chart, with 31.86m units traded in deals worth ₦9.17bn. Among the laggards, DAARCOMM (-10.00%) stood out among twenty-six others, while SUNUASSUR (+10.00%) led eighteen others on the leader’s log.

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