Business and Economy

The Nigerian stock market lost 0.27% on Friday to close the week at N36.76 billion value

The Nigerian stock market lost  0.27% on Friday to finish at 66,915.41 points. The ASI closed 0.42% lower week-over-week after losing in three (3) of five (5) trading sessions this week. The only factors behind the market’s decline were bearish sentiments in ZENITHBANK (-0.30%), GEREGU (-7.22%), and GTCO (-0.56%).

The largest contributors to the week’s loss throughout the course of the week were MTNN (-0.20% w/w), NESTLE (-0.49% w/w), and GEREGU (-7.22% w/w), outweighing gains in ZENITHBANK (+3.28% w/w), GTCO (+2.31% w/w), and ACCESSCORP (+3.79% w/w). Due to this, the ASI’s year-to-date (YTD) return dropped to 30.56%, and the market capitalization declined by N156.34 billion to close at N36.76 trillion.

Trade turnover settled higher than it was during Thursday’s session with the value of transactions increasing by 42.32%. In 4,986 transactions involving 205.89 million shares worth N6.38 billion  were completed. With 28.13 million units traded, FIDELITY (-0.61%) dominated the volume chart, while GEREGU (-7.22%) won the value chart with trades totaling N3.20 billion.

On the laggard’s table, CADBURY (-10.00%) outperformed fifteen (15) rivals, while AIICO (+4.48%) outperformed eight (8) rivals.

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