Business and Economy

The Nigerian stock market dips by ₦20.74bn on Monday

The Nigerian stock market concluded today’s session with a 4bps decline, resulting in the benchmark index closing at 100,020.83 points. The market’s performance was influenced by selloffs in ZENITHBANK (-2.54%), UBA (-0.89%), and TRANSCORP (-0.77%), despite investor interest in GTCO (+0.33%), FBNH (+5.02%), and ACCESSCORP (+0.26%). As a result, the year-to-date (YTD) return decreased to 38.28%, while market capitalization dropped by ₦20.74bn to end at ₦56.58trn.

In terms of market analysis, turnover decreased compared to the previous session, with the value of transactions declining by 62.44%. A total of 274.68m shares valued at ₦3.71bn were traded in 10,112 deals. UCAP (+6.79%) led the volume and value chart with 26.64m units exchanged in deals worth ₦737.25bn.

Market breadth closed negatively with a ratio of 0.70-to-1, as declining issues outnumbered advancing ones. ETRANZACT (-10.00%) topped the list of twenty-six (26) laggards, while LINKASSURE (+10.00%) led eighteen (18) gainers.

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