Business and Economy

The Nigerian Stock market lost 0.65% on Friday but gained 0.08% w/w

The Nigerian stock market All Share Index lost 0.65%on Friday to close at 65,056.39 points. However, despite losing three (3) of five (5) trading sessions in the week, the All Share Index (ASI) closed 0.08% higher week on week, extending advances for the second week in a row. As a result, the All Share Index (ASI) year-to-date (YTD) return declined to 26.94%, while the market capitalization increased by N7.67 billion w/w to close at ₦35.40 trillion.

Bearish emotions in market heavyweights MTNN (-1.13%), ZENITHBANK (-2.86%), and GTCO (-1.20%) drove the market down. The biggest drivers of the week’s gain were MTNN (+0.74% w/w), GEREGU (+3.60 w/w), and SEPLAT (+20.99% w/w), outweighing losses in ZENITHBANK (-3.27% w/w), GTCO (-3.77% w/w), and ACCESSCORP (-4.63% w/w).

Trade turnover was larger than it was on Thursday with the value of transactions increasing by 11.46%. In 8,051 transactions, 459.77 million shares worth N5.35 billion were swapped. UBA (-2.03%) dominated the volume and value charts, with 57.62 million units traded in transactions for N832.31 million. CHAMS (-10.00%) led thirty-one (31) other laggards on the laggard’s table, while COURTVILLE (+10.00%) led sixteen (16) other leaders on the leader’s table.

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