Business and Economy

Stock market lost 1.40% (N638.85 billion) on Wednesday

The Nigerian stock market NGX All-Share Index lost 1.40% to close at 82,024.38 points on Wednesday. As a result, the year-to-date return decreased to +9.70%, and the market capitalization closed at ₦44.89trn after slipping by ₦638.85bn.

The market was dragged down by losses in MTNN (-4.41%), ZENITHBANK (-9.93%), and GTCO (-8.71%), despite the gains in DANGCEM (+3.83%), BUAFOODS (+5.82%), and TRANSCOHOT (+7.24%).

Trade turnover closed higher compared to Wednesday’s session with the value of transactions increasing by 2.82%. A total of 1.64bn shares valued at ₦25.38bn were exchanged in 20,223 deals. TRANSCORP (-9.94%) led the volume chart with 117.64m units traded, while GTCO (-8.71%) led the value chart with deals worth ₦3.28bn. CORNERST (-10.00%) topped the laggard’s table among forty-nine others, while CADBURY (+9.92%) led the leader’s log among ten others.

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