Stock market report: All Share Index declined by 0.31% as sell-offs continue

Nigerian stock market All Share Index declined by 0.31% on Thursday to close at 65,482.91 points. As a result, the market capitalization decreased by N111.15 billion to close at N35.63 trillion, and the year-to-date (YTD) return decreasee to 27.77%.

The selloffs in tier-1 banking names were the main market mover, pushing the broad index lower. ZENITHBANK (-0.85%), GTCO (-3.10%), and FBNH (-4.39%) all had a role in this.

Market Turnover was lower than when compared to Wednesday’s results, with a 32.87% decrease in transaction value. In total 8,070 transactions involving 509.25 million shares worth N4.795 billion were completed.

With 115.70 million units exchanged, JAPAULGOLD (-9.91%) led the volume chart, and UBA (0.00%) dominated the value chart with transactions totaling N595.92 million. On the laggard’s list, JAPAULGOLD (-9.91%) outperformed thirty-three (33) others, while LASACO (+10.00%) outperformed eleven (11) others.