Business and Economy

Stocks lose N61.36 billion in market capitalization as the All Share Index declines by 0.19% on Thursday

The Nigerian stock exchange today All share index dropped 0.19% to close at 59,211.26 points on Thursday. Thus, the ASI’s year-to-date (YTD) return decreased to 15.53%, and the market capitalization decreased by N61.36 billion to close at N32.24 trillion

The poor performance was mostly driven by losses from GTCO (-1.56%), WAPCO (-0.34%), and UBA (-1.31%), which outweighed gains from MTNN (+0.19%), ZENITHBANK (+0.16%), and GEREGU (+1.69%). The market is still expected to post a weekly rise, though.

Trade turnover settled higher than it had the previous session. In total, 7,459 transactions involved 615.91 million shares worth N6.62 billion were completed. With 97.15 million units exchanged, WAPIC (+9.30%) dominated the volume chart, while GTCO (-1.56%) headed the value chart with transactions totaling N1.10 billion.

Twenty-one (21) others were surpassed by LASACO (-10.00%) on the laggard’s log, while twenty (20) others were surpassed by NEM (+10.00%) on the leader’s table.

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