Business and Economy

Stock market losses 0.66% (N258.85 billion) on Monday as selloffs exceeds demands

The Nigerian stock market NGX All-Share Index lost 0.66% on Monday to close at 70,946.83 points due to selloffs in BUACEMENT (-10.00%), ZENITHBANK (-0.43%), and DANGSUGAR (-0.43%), which countered demand for Tier-1 banking stocks including GTCO (+0.26%), ACCESSCORP (+0.83%), and FBNH (+9.93%). Consequently, the market capitalization fell ₦258.85bn to close at ₦38.82trn, and the ASI’s year-to-date (YTD) return dropped to 38.43%.

Trade turnover ended up being smaller than it was during Friday session with a 30.56% decrease in transaction value. 6,433 deals totaling 358.53 million shares, valued at ₦7.10 billion, were exchanged. With 58.85 million units traded, UNIVINSURE (+0.00%) topped the volume chart, while AIRTELAFRI (+0.00%) lead the value list with trades totaling ₦3.27 billion.

On the leader’s table, THOMASWY (+10.00%) had the advantage over thirty-two (32) others, while on the laggard’s log, BUACEMENT (-10.00%) led twenty-four (24) others.

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