Business and Economy

The Nigerian stock market dips by ₦113.49billion on Tuesday

The Nigerian stock market continued its downward trend for the fourth consecutive session, with the All-Share index closing 0.20% lower at 99,805.95 points. Blue-chip stocks like GTCO (-4.21%), ZENITHBANK (-0.40%), and FBNH (-1.75%) experienced selloffs, pushing the market into negative territory despite gains in WAPCO (+0.97%) and DANGSUGAR (+1.74%). As a result, the year-to-date return dropped to 33.48%, and the market capitalization decreased by ₦113.49bn to ₦56.46trn.

Today’s market analysis revealed an increase in trade turnover compared to the previous session, with transaction value rising by 653.03%. A total of 422.69m shares valued at ₦53.96bn were traded in 8,256 deals. TRANSPOWER (+0.00%) led both the volume and value charts with 118.63m units exchanged for ₦48.99bn.

Market breadth ended positively with advancing stocks outnumbering declining ones at a ratio of 1.08-to-1. CHAMPION (+9.97%) topped the list of twenty-five (25) gainers, while AFRIPRUD (-10.00%) led the list of twenty-three (23) losers.

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