Business and Economy

Stock market dips as All-Share Index lost 0.16% on Tuesday

The Nigerian stock market dips today as the NGX All-Share Index lost 0.16% to close at 99,630.51 points due to bearish sentiment. Despite gains in SEPLAT (+0.26%), GTCO (+2.62%), and ZENITHBANK (+0.57%), losses in MTNN (-4.04%), FBNH (-0.43%), and TRANSCORP (-2.27%) offset the positive performance. As a result, the year-to-date return decreased to 33.24%, and the market capitalization lost ₦92.32bn to settle at ₦56.36trn.

Stock market analysis

Today’s market analysis revealed an increase in trade turnover compared to the previous session, with transaction value rising by 22.62%. A total of 848.97m shares valued at ₦16.55bn were traded in 8,064 deals. FIDELITYBK (+2.04%) led both the volume and value charts with 293.18m units exchanged in deals worth ₦2.93bn.

Market breadth ended positively with advancing stocks outnumbering declining ones at a ratio of 1.71-to-1. TOTAL (+9.98%) topped the list of twenty-eight (28) gainers, while NASCON (-9.91%) led sixteen (16) decliners.

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